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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: engineer who wrote (81077)	10/16/2008 1:00:56 AM
From: David E. Taylor	2 Recommendations Respond to of 197351

They may be buying back stock based on whatever strategy, buy-back price targets, and put options they sold, but there's little the company can do to "support" the stock price in this environment. The $2 billion buy back authorization is only around 50 million shares. We traded that many shares in a single day on 9/29 when the stock dropped from $45 to $40, and again last Friday 10/10 when it opened at and closed at $39 with an intraday swing between $42.50 and $36! So even if they shot the entire $2 billion load at once, it would not have much of an effect beyond short term. JMO, but it is what it is. Eventually some rationale behavior will return and fundamentals will matter again. They sure don't right now. David