QCOM And AAPL.......

I don't own any QCOM, but, simply put, the QCOM guidance was poor. But it reminded me a lot of the last few quarters. Case in point, last quarter QCOM originally guided for 45 or 47 cents and they came in this quarter at 62 cents. Then QCOM raised guidance before this report and it bested that guidance as well.

Bottom line, some sandbagging is likely being done, and I still think the QCOM story gets better later in the year, and for the next 2-3 following. I think anything in the $38's is a gift and I'll try to start a position should it get there.

Stripping out the cash, QCOM has a forward P/E of 13. On this same analysis AAPL's is under 12. That gives QCOM a PEG of .7 or so whilst AAPL's is a shocking .35.....

Not quite sure how cheap stocks like these need to get. Maybe a Bernanke no vote was being priced in over the last two weeks - and he just got reappointed.....

long AAPL