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

To: Stephen M. DeMoss who wrote (113631)	2/19/2002 9:24:47 AM
From: Jon Koplik	Read Replies (2) \| Respond to of 152472

Stephen -- I think you've said "out loud" what many of us are thinking today. Another possible way of stating your thoughts is a line that I have "muttered" many times over the past twenty years or so (sometimes referring to stock trading, often referring to interest rate futures trading) : "What's the point of being smart ?" Jon.

To: Stephen M. DeMoss who wrote (113631)	2/19/2002 9:28:07 AM
From: Wyätt Gwyön	Respond to of 152472

It is amazing all the 'good news' that is coming out of Qcom. In the old days, Qcom would be up at least 6 points or so on all this news. 6 bucks up on 37.40 (friday's close) is a 16% rise. so the question to ask is, do all these press releases immediately add an incremental $6 cash to the company, or do they immediately and permanently improve QCOM's profitability by 16%? my guess is they do not. (e.g., i would guess people already discounted a summary judgment in QCOM's favor.) now if QCOM were to announce they won a Powerball lottery with an after-tax prize value of some $3.3BILLION (about 16% of QCOM's market cap), i would not be surprised if QCOM rose by 16%. but i don't think they play Powerball, and i don't think the prizes are that big. perhaps that is a silly example, but it does give some idea of the magnitude of positivity i would need to see to be unsurprised by a 16% immediate upside move. If we don't get an up move today, you really have to wonder i think it was the old days you really have to wonder about. QCOM gained over 100 points in a single day because Walt Piecyk predicted it would go to 1000. and he was actually pretty close since it got to 800! i forget the actual number of points it went up that day, but when you consider 100 points presplit is equal to 25 points today, the amount was probably close to equal QCOM's entire market value today. all because some analyst threw out a number. what a world!