Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 166.81

-4.1%

Nov 17 3:59 PM EST

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To: bdog who wrote (18116)	11/10/1998 5:04:00 PM
From: Clarksterh	Read Replies (1) of 152472

Re Talking Down Expectations: Although I have to admit I found listening to the last Conference Call a bit like watching some sort of surreal movie, I also think that talking down expectations is a reasonable policy. The rationale is: 1) The Company is concerned about long term performance of the company. 2) In order to get long term company performance they need to be able to sell their product and, for a company growing this fast, they need continuing access to capital. The first is out of scope for this discussion, but one of the primary methods by which they get access to capital is to have credibility with the financial community. The best way to do this is to continually exceed expectations. Some people might argue that access to capital is also enhanced by having a higher stock price, and of course that is true - in the short term. But in the long term boosting expectations to boost the stock is dangerous since when you do not make them your stock price crashes and you have no credibility to fall back upon. Bottom line - eventually the stock price will reflect company performance. What's the rush? Clark

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