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

To: ggamer who wrote (72575)	5/27/2000 6:42:00 AM
From: JGoren	Read Replies (2) \| Respond to of 152472

We have to be near the bottom. It would be nice to think the stock will rebound sharply; sure hope Cena right. But, this is a bear market, and I have come to believe that the stock will not bounce back sharply. It will take a lot longer than we think. What we can expect is that after June it will start to slowly recover (provided it appears the FED will not be making more rate increases) and we might see 80 again in the fall. PE ratios won't be the same, but more in line with historical norms. If $1.40 annual income is correct for 2001, then $63 per share is fair value at a 45PE ratio. At $1.75 earnings, price would be $78.75. I don't see investors paying the kind of PE ratios we have seen in the last bull market again for the foreseeable future. Positive China news would help tremendously, but what is being missed is the expansion of the use of Qualcomm chips to other devices. News of deals with car manufacturers for car communication-telematics and uses in laptops, metering devices, etc. would help even more.