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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 164.83+3.3%3:23 PM EST
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To: marginmike who wrote (16433)10/14/1998 3:01:00 PM
From: Webster  Read Replies (2) of 152472
 
Mikegargin, re: Pacanni/Maria/John Dessaur/Cabi/similar analysts and alike.. The masses listen to these people. At the same time (with the exception of Cabi) similar people will make positive comments about qcom. It doesn't make them any smarter.

The masses as well as large institutions look to these people (Cabi/Analysts) for direction, advise, confidence and knowledge. Pacanni/Maria/Dessaur/ will gather their knowledge from various sources which they believe to be credible. The masses don't understand qcom and lack confidence in qcom. Here we sit in FY99 with a +$3.00 eps outlook plus significant income growth beyond and it doesn't move people to this stock.

I hope we are not here next year with a $3.00 eps fy99 in our pocket and the stock trading at 22 times trailing earnings. Just like the Chicago Cubs, wait until next year.

With the masses moving towards the exit we keep buying the Q. qcom's job in FY99 is not only to produce their EPS but educate the ignorant people who heavily influence the market. When these analyst make stupid claims they are relying on the input from their sources. As unfortunate as it is, we can not take a holier than thou attitude and say to hell with the stupid masses. When consumer confidence hits qcom, look out! Earnings generate the confidence in those with knowledge, however the masses generate confidence from our friends mentioned above. FWIT Thanks.
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