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

To: Maurice Winn who wrote (6986)	1/10/1998 5:01:00 PM
From: Valueman	Read Replies (3) \| Respond to of 152472

Maurice: Somewhat off topic What about your good old NZ market? I don't watch it too closely, but it sure has a lot of bad days. Are there any bargains cropping up? I am not loyal--I will invest anywhere! I got my issue of Outstanding Investor Digest the other day and there is a great case made for an Indonesian stock in there. For those of you in Globalstar or thinking about it, now is the time. This is a good price and the launch is a definite go. Loral, of course, has followed it down and is also a steal. As fellow value investors might be painfully aware, a steal may become an even better steal as the price falls further.

To: Maurice Winn who wrote (6986)	1/10/1998 5:17:00 PM
From: kech	Respond to of 152472

Mqurice - What do you say about passing the hat to buy Ramsey some QCOM at 46 so he will still have some when it goes back up to 60 in a week or two?

To: Maurice Winn who wrote (6986)	1/10/1998 6:10:00 PM
From: Ramsey Su	Read Replies (3) \| Respond to of 152472

Maurice, "now this is getting interesting. Qualcomm at $46 or so and you ditching all and heading for vaporware US$." I find it interesting myself. Previous dips were generally caused by chicken littles worrying about CDMA, lawsuits or whatever. QCOM's fundamentals has never been better. All the posters who were mumbling about QCOM's high PE, take a look at FY98. Consensus is in the low to mid $2 range. At Friday's closing price, that is a PE in the low 20s for a company enjoying almost 3 digits growth. Over the years, we picked a few bottoms together but this time we differ. I opine that the worst is yet to come. Just like the article referenced by Tom Brush, investors are confusing the impact of the Asian turmoil to the US economy vs the stock market. I totally agree that whatever happens in Indonesia or Korea would have very little impact to our daily lives here, may even benefit by having cheaper products to buy. But that has nothing to do with stocks. Take ORCL as an example. Ellison said on Friday that Asia went from 50% growth to negative, also stating that Asia is about 15% of Oracle's business. Now how much is that toward the bottom line and for how long? Looking through some numbers this weekend, I don't think the current estimates for the likes of MOT and IBM have been adjusted, regardless of how rough a guess it may be at this time. What is the likelihood that the multi-nationals are going to beat expectations this qtr? Stocks, such as Adaptec on Friday, tumbled at the first sign of trouble. What is the opposite of irrational exuberance? 20%, 30% or more gap downs are normal these days. What do you think MOT will do on Tues, if they miss and follow up with some less than positive statements on Mon? Tom, the current market sentiments are so weak that I think there are plenty of opportunity to buy, in the event that I do indeed bail out. Your generous gesture of passing the hat, however, is accepted. Please send me a check, shares or whatever you manage to collect. Ramsey