Today one site suggested, qualitatively, that the new iPhone was seeing manufacturing delays. Yet, the other day another site said that there are 150,000 new iPhones being produced a day.
The ridiculousness of these rumors are pretty fascinating.
All I know is this, if you look at what Apple will produce this quarter, they will have a trailing PE of 15.5 near a stock price of 430. So if we assume no multiple expansion, Apple is going to the 430 area in a month or two. (My conservative nature is making me look at 420.) And any decline between now and then, I will be actively trading, along with maintaining a position until 420-430.
Also, as if I even need to be so obvious, I will be using any potential weakness to re-enter QCOM (and actively trade it).
With a break out, QCOM can easily test 56. (But if we remove a conservative nature, the high-end range is 58. And that is far from an un-realistic projection for the stock to meet.)