Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 161.74

-2.6%

1:44 PM EST

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To: Mark Glembocki who wrote (28007)	4/21/1999 10:48:00 PM
From: JGoren	Read Replies (2) of 152472

Those of us long-termers are quite understanding of the "risk". We have held for years of the 37-70 trading range believing that the stock was way undervalued. What you are seeing is a massive revaluation, first with the lifting of the uncertainty with the Ericy settlement. The past 24 hours was based on the first numbers giving an idea of what the settlement means. 195 is probably too high on the basis of 30X next year's earnings, which the analysts are already predicting to be over $5.00, but the analysts are overly conservative. But, we also believe that Qualcomm has the potential to become a great world-wide franchise of the wireless world. We know there is risk. We don't expect it to stay at $195 short term; it's going to be volatile. We do expect that performance--real earnings--each quarter will determine the stock's value. That is not to say that we are not somewhat appalled by the momo folks who are jumping on the bandwagon. Qcom is not an internet stock, and that's one reason we like it. The long-term posters know and understood the technology long before most people ever heard the name Qualcomm. You must understand that Qualcomm has been on many "recommended" lists for this year, and the institutions were accumulating shares at least through March 25 announcement. What happened today is probably an overreaction to enormous SURPRISE and ASTONISHMENT in yesterday's report. Finally, remember that most increases in stocks occur in situations like this--an event that changes the story and causes a revaluation of the company--and that most of a stock's price increase during a year occurs in just a few trading days of that year. Did I hear right in the CC that Irwin is expecting an announcement on a country-wide cdma within the next month? Expect an announcement that Qcom is building handset factory in China--you heard it first here.

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