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Strategies & Market Trends : Gorilla and King Portfolio Candidates -- Ignore unavailable to you. Want to Upgrade?

To: Bridge Player who wrote (53866)	4/17/2003 7:52:52 PM
From: Maurice Winn	Respond to of 54805

Bridge, you are right. QUALCOMM will infrequently be in the market and only dabbling compared with the volume traded. I recalled writing that but on clicking back, find my arithmetic wasn't of engineering quality <... I suppose the answer is that the company only has $3 billion to spend and the daily volume is 10 million shares x $30 = that much every day [more or less, ignoring the Nasdaq double counting stuff].> Okay, it's not every day, it's every 10 days. 10 days of trading would take ALL of QUALCOMM's cash. If QUALCOMM buys their own stock each year, that would act as a strong guide to the price they think they are worth. It would be a brave person who buys at a price a lot higher than QUALCOMM paid [unless some big and positive news came out]. Mqurice