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Technology Stocks : Qualcomm Incorporated (QCOM)
QCOM 170.90-1.3%Nov 7 9:30 AM EST
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To: bananawind who wrote (26398)4/8/1999 12:30:00 AM
From: Mike Buckley  Read Replies (1) of 152472
 
Jim,

Q's value as a business did not triple in the last ninety days, although the stock price did. Mike B's response re analysts changing their estimates indicates that he is not really on the same page in understanding this.

Not speaking for Dave, but I infer from his post that the analysts were late to raise estimates because they were not fully appreciating the locked in value of the company. I agree that the company's value hasn't tripled in the last ninety days. The corollary could be argued that the stock was two-thirds undervalued or more ninety days ago.

I do think, however, that when there is a confluence of events including a change in investors' and analysts' perceptions regardless of how late they are to come to that perception, that confluence is in itself a change very much worth noting.

--Mike B(uckley)
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