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

To: marginmike who wrote (91651)	1/11/2001 6:07:24 PM
From: ggamer	Respond to of 152472

Look up north! 3G is coming soon and we don't have long to wait for the regular consumer to see the benefits. Short Stories QUALCOMM (QCOM) 71 31/256 -2 33/256: -- Update -- Mrgn Stnly Dn Wttr reiterates OUTPERFORM rating and price target of $100. Firm reports that wireless service provider Bell Mobility is expected to announce today a major network expansion and deployment of 3G wireless services based on QCOM's CDMA 2000 IX technology. QCOM, Toll Gate to 3G (now playing in theater near you in Japan, Korea, Canada, Brazil, and US) Spinco, Engine to 3G

To: marginmike who wrote (91651)	1/11/2001 6:10:58 PM
From: Art Bechhoefer	Read Replies (4) \| Respond to of 152472

<<Much of the action today was short covering. I think when market goes into buying panic the DOW/Defencive stocks get sold.>> Questions: 1. How do you know most of the action today was short covering? What is your data source? I can't find anything that would suggest short covering. 2. Typically, if the market goes into a buying frenzy (as opposed to buying panic, which would seem to be an oxymoron), certain more conservative, defensive stocks will get sold. That is a truism. How do you know that trend hasn't already started? Take a look a the drug stocks--companies like Merck, Johnson & Johnson, which are considered growth oriented but also defensive. They have reached a plateau over the past several weeks and appear to be going nowhere. Compare with the action this week in smaller tech stocks, which appear to be getting some additional interest. 3. Although lower than expected results for certain tech stocks can explain SOME drop in their prices since last March, isn't MOST of the drop explained by the opinions issued by investment firms, which, no matter how far fetched they are from real results on a company-by-company basis, seem to affect investor sentiment more than the company fortunes themselves? Isn't there some fairly strong evidence of renewed investor interest in the tech stocks, based on recent price changes? 4. If the market is weak, isn't that partly also a function of some spokespersons for the new administration talking down the market, as if to justify the pressing need for a tax cut? And isn't that weakness exacerbated with the help of conservative investment managers, who would rather see a tax cut FIRST before reinvesting the cash they are currently withholding from stocks? My point is: The tech sector remains the highest growth sector, regardless of investor sentiment. Some tech stocks, notably the dot coms, have been overvalued for months, if not years. Other tech stocks, including stocks like QCOM and SNDK are ridiculously undervalued, simply because investor sentiment is indifferent to the tech sector as a whole, and too many investors are reluctant to study the underlying fundamentals to separate the wheat from the chaff. QUALCOMM, with its huge patent portfolio, is very much like the old Radio Corporation of America, which held most of the AM radio patents, and many of the TV patents as well, from the 1920's through the 1950's. Just as RCA was a great investment in its heyday, so is QCOM probably the best growth opportunity for at least the next ten years. Art Bechhoefer