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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: jmanvegas who wrote (66136)	2/7/2000 12:45:00 AM
From: djia101362	Read Replies (3) \| Respond to of 152472

jmanvegas, i agree with you to a certain extent. i don't think any reasonable investor expects the nas to go up 300 pts. a week, that would put the nas at about 17,000 by year end. the point that i disagree with you is on QCOM. if the nas tanks 1000 pts., many stocks will indeed get pounded and QCOM will too. but i don't see QCOM going down a whole lot further than we saw the week after earnings. it's clear that China is not included in anyone's estimates right now. it's also clear that analysts are still having difficulty valuing QCOM. we all knew the China deal was coming but it's now obvious that many people out there did not. otherwise QCOM would not have sold off so much and it would not have spiked up so much on the China news. many here are expecting some kind of deal with NOK soon. we may know/think it's going to happen but i'll bet if/when it is announced, QCOM jumps a good 10-20 pts and that's because more people out there don't know about than do know about it. this is what one of QCOM's biggest supporters refers to as "ambiguity". the market doesn't understand QCOM and until they do, every piece of news will have an exagerated effect on its stock price. i've made this comment on this board before but i'll make it again, this market has always found a way to turn bear crap into gold. i'm not saying it can continue to so time and time again but the resilience of this market, especially the nas, has made fools out of some of the most astute investors/analysts. that fact is that we are in a liquidity driven market like we have never seen before. i think we all expect corrections in this market, there is no doubting it. but the strange thing about this market is that corrections happen lightning fast. if you take a week off and go on vaction, you may have missed the most recent 500 pt sell off in the nas and by the time you return home, you wouldn't have even known that it happened.