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

To: brian h who wrote (9150)	3/9/1998 11:26:00 PM
From: Gregg Powers	Read Replies (3) \| Respond to of 152472

Brian: I hope you are kidding. YHOO's fully diluted market capitalization is approaching $5 billion, against $65mm in trailing revenue. That's not good news, that's a tragedy waiting to happen. The delinkage between economic fundamentals and corporate valuation will ultimately wreak financial devastation on these companies' shareholders. This isn't investing, this is Las Vegas by way of New York City. Qualcomm has mercifully been excused from this circus. It's always great to get immediate gratification from an investment. Short-termers like Candle stick perpetuate this mentality by bragging about their fantastic winning trades while neglecting the numerous disasters. But remember, when Warren Buffet bought Coca-Cola, the company had almost been written off by the Street. Time, patience, and strong corporate fundamentals validated his keen observations and Berkshire's shareholders have been tremendously rewarded by Mr. Buffet's trading inactivity. Greed, ignorance and impatience are the investors' worst enemies. Oh well, I'll stop the sermon. But, think about this, Qualcomm's stock has already been pounded by Korea. Weak-handed institutions have sold; the shorts have jumped in; traders like Candle stick are predicting impending disaster; expectations are in the cellar, but still the stock trades sideways. Maybe in July (when the company reports its Q3), or in November (after audited Q4), Qualcomm's financial luster will be restored. The dual-mode Q will be shipping in volume, the infrastructure operation will inflect to profitability, ASIC growth will surge due to Japan and North America, Globalstar infrastructure will ship and royalties recommence their upward spiral (lifted by worldwide subscriber growth and a recovering Won). The Street will then be caught with its bearish pants down, the institutions will rush back in and the shorts will cover in panic. All this and more, sometime before Christmas this year. Hype, we don't need no stinking hype! Best Regards, Gregg