The goal was to buy the ridiculous washout on media hype and then sell fair value . A value was established at $70/share by Broadcom, with its takeover offer. I say “a value” because the value may be something different, as in higher. The market will decide that.
But here, just under the offer price I am taking the profit on a nice trade. The 73 area reached in 2014 is a 14 year year high, I believe. QCOM’s issues have not all gone away and although I stayed with this for several weeks of paper profitability I am turning it into booked profitability at 34%. Pending the market, I’ll replace it with another tech stock.
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