Despite the big gain, I’ve decided to hold onto QCOM after buying it the damn day it mini crashed on some goofy negative media hype in the Wall Street Journal (or was it the NY Times?). What was the ‘news’? I can’t even remember. But it was some sort of media speculation, which tanked the stock.
Now Qualcomm is apparently rejecting Broadcom’s bid, which as we noted in NFTRH sets a minimum theoretical valuation at $70 a share. Sure the company is fighting battles left and right and sure, Apple is sneaking my former holding Intel in through the back door. But the Broadcom (AVGO) bid further legitimized Qualcomm’s value in my mind. Anyway, we’ll see. But as long as I have a positive market view I want to have positions that I don’t trade out of too quickly, I guess.
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