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

To: Elmer Flugum who wrote (8138)	2/7/1998 4:16:00 PM
From: dougjn	Read Replies (3) \| Respond to of 152472

Thanks. Well, I lowered my 98 estimates to $1.45, with the same option. Really, if one listened carefully to the conference call and knows anything at all about the company and financial analysis, it ain't rocket science. My view is, this is really a gift if properly utilized. We all (or the great bulk of us) have great long term faith in this company. However, this is a very significant near term disaster. The stock is not finished reacting. That is how the Street reacts. So what's the smart move for the faithful? Sell now, even if a nasty loss. Buy back when pessimism about the duration of the problem gets really bad (as opposed to the general view, as expressed on this thread, of one or two quarters problem tops, then she pops right back to previously expected earnings levels.) With any luck thee and me will get a chance in the next few months to buy back in the 30s. If you can get out at 47 on Monday, that would mean 35% more shares for the same money (I got out at 49 Monday). I expect the low 40s within a couple of weeks, anyway. Nothing of course is certain. Except I'd say that a sustained move over 50 is certainly NOT in the cards anytime soon. SO WHY WOULD ANYONE WHO OWNS THIS STOCK FOR OTHER THAN RELIGIOUS REASONS NOT SELL NOW, to rebuy later?? The most bullish thing I can imagine near term is that it continues to hover at this level for a long time before moving back up months from now, after Korea starts strongly reordering. Of course, this strategy assumes one does not go to sleep over the next six months. Or fail to get back in when there is even more pessimism about the near term. If you do, good chance you'll only be able to get in above current price. Doug