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

To: limtex who wrote (123734)	9/3/2002 1:22:15 PM
From: alburk	Read Replies (1) \| Respond to of 152472

Limtex I'm just going with company guidance on growth. I am concerned that guidance may be optimistic--due to the poor state of the global and US economies and the potential for deterioration in the US consumer economy--not execution failures by QCOM. I somewhat arbitrarily picked a 20 PE (forward) as a reasonable multiple expecting that QCOM's story will continue to progress, albeit at a much slower pace. I think a 10 or lower PE implies that QCOM has a nominal stake in the future of wireless--I disagree. My point was that a target of 60 (12-18 month) based upon historic earnings multiples is irresponsible. IMHO current economic conditions are incapable of fueling growth supporting a 60 PE for QCOM. Andy