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

To: Andrew N. Cothran who wrote (120151)	6/11/2002 10:53:19 AM
From: Wyätt Gwyön	Read Replies (3) \| Respond to of 152472

hi Andrew, Hence, QCOM'S current price is INFLUENCED by the current fear factor OK, "INFLUENCED by the current fear factor" is a nice hop, skip, and a jump back from "based on fear" which you stated earlier. while we're at it, let's mention that QCOM's share price is also INFLUENCED by hopes for 3G and so on. it might even be influenced by butterflies flapping their wings in Chiner. basically, there are a whole lot of influences out there, the output of which is a PSR of about 10 times, which happens to be about 10 times higher than the median PSR of the SPX over the last 76 years or so. somehow, i don't interpret that order-of-magnitude PSR premium QCOM has acquired as being primarily due to the INFLUENCE of the fear factor...

To: Andrew N. Cothran who wrote (120151)	6/11/2002 11:03:46 AM
From: Stock Farmer	Read Replies (3) \| Respond to of 152472

Qualcomm priced due to fear? LOL Fear of not making money maybe. But not fear. If this thread is representative, then it seems to me there's a whole bunch of folks standing with tickets in their hands. Hoping and hoping that they will be worth more again like they used to be, seeking out with eager anticipation any shred of good news. And tossing it around like kids with a beachball. That's not fear. Seems to me that like every other equity Qualcomm is priced where it is by the law of supply and demand. Lack of supply coupled with lack of demand means nowhere. Not a lot of people are rushing their money into overpriced companies in the hopes that they will become more overpriced. Not everyone is learning impaired. And because of the rapid rise of Qualcomm's stock, there are individuals whose positions would be tremendously profitable even if they sold at half price. For example. To sell these positions and adopt others will attract capital gains tax, in a market where it is not clear that there are twice the returns available in the similar sector necessary to make up the difference over the course of a few years. So sector based funds are hosed. Trapped in to playing keepers. Individuals who know only know telecom are playing keepers. Techies are playing keepers. Trapped. Frozen by the prospect of paying taxes. So what we see is prudence keeping a few last pegs standing. Not expectation of gains. And not fear of loss. Just paralysis. That's not fear. John