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

To: JMD who wrote (8148)	2/8/1998 4:15:00 AM
From: Dan Ross	Read Replies (1) \| Respond to of 152472

Where do I fit in with the group? <g><g> Time to let ya'll know what I think after listening to the Conf. Call...... L-T still looks good....CDMA will reign and hopefull the IPRs will continue to generate a ton of royalties...Japan (second largest cell phone market) goes online later this year..... S-T...The Q looks pretty bad......Korean cancellations, Korean products coming in from overseas at lower prices, Q phone slowdown, delayed deployment of Q for 800 Mhz, etc......Possible inventory glut...U shape is an understatement......Stretch the bottom out a bit so It looks like a skateboard ramp...my guess is that 2nd and 3rd Q will be slower than anticipated.... The stock will slide to 42 at least......Major slowdown IMHO...the growth will not be there that justifies the HIGH-flying multiple .... As I have said, L-T looks great and that is where the multiple really lies...However, in the S-T I wouldn't be suprised to see mid-30's if the market hiccuped like last Oct......QCOM isn't alone with EPS problems......they got their warning out ahead of the S&P companies for next Q...... I am looking for a pullback to 7500...THIS MARKET IS OVERVALUED.... Dan Ross