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

To: Maurice Winn who wrote (16154)	10/8/1998 9:13:00 AM
From: straight life	Read Replies (1) \| Respond to of 152472

OT >>>"The current drop is on EVERYTHING. On your theory, ALL value in human things has dropped heavily. But this drop is not a change in value perception, it is a monetary impact."<<< Nope. The current drop is NOT on EVERYTHING, it's not on Utilities (new highs daily), gold or bonds as these are defensive assets and peoples PERCEPTIONS about the future course of economic growth has changed dramatically. People bought Nokia and Ericsson and yes, QCOM, because of assumptions they made about the future growth of wireless sales: handsets, infrastructure and the like, as the stock market is a DISCOUNTING mechanism; it discounts perceptions of the future. People don't buy assets in the stock market (mostly), they buy perceptions of where those assets will be in 6, 12, 18 months time. They look at FORWARD PEs, they read ESTIMATES. They buy the rumor; they sell the fact. The group-think about that future is changing rapidly. Rapid change is painful to people who signed onto the previous group-think as we did. We still believe (at least you and I do; I don't know about Qdog) in that vision of the future. Hopefully OUR vision of the future will turn out to be true and we will be rewarded when the tide of thought turns again..