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

To: Jacob Snyder who wrote (93190)	7/16/2010 4:18:00 PM
From: BDAZZ	1 Recommendation Respond to of 196546

Similar statements have been made on this board, by the Faithful, every day for many years. << The only problem with your argument is that those faithful have made a ton of money in this stock over the years. They seem to think there's still a story here. OTOH if I had bought at 36 I would now be losing money.

To: Jacob Snyder who wrote (93190)	7/17/2010 12:54:57 PM
From: matherandlowell	9 Recommendations Read Replies (1) \| Respond to of 196546

Well argued once again, Jacob. No one can say that this has been the best decade for QCOM. That is a simple matter of fact. But we are not in the stock because we were in it for the last decade, we are in the stock because of what we see for the next decade. No one reading this board would argue that last year's increase should inspire this year's purchase of shares. Everyone knows how this game is played: you want to hold stock in companies whose revenues and earnings will likely increase, companies that have a moat, companies that have a legal monopoly. We're not buying past performance, we're buying future potential. True, the spirits of the faithful may falter during periods of low stock price. Indeed, that is what we have seen with QCOM. But you hold your position in the stock because you believe that the number of smartphones out there is destined to increase, that the number of handsets using 3G will increase, that the number of Snapdragons going into products will increase. This is not a repeat of Vietnam my friend. If you are listening to Paul but hearing President Johnson you need to lighten up on some of your medications. If the Dow is at 8000 next year (due to circumstances beyond management's control) the stock will be priced at $35. If the Dow is at 10,000 next year, the stock will be priced at $45. If the Dow is at 11,000 next year, the stock will be priced at $55. Don't let your reverie of 60's or your regrets about the Carter Administration prompt you to take a short position on this stock. There were many years when American rockets were inferior to Soviet rockets and then there was a year when we saw guys in white suits bouncing around on the moon. j.