QCOM had a punch-in-the-gut type of action today. I tried to look at it objectively.
1. I was expecting some level of holdup at 59-60 due to the 32SMA resistance. Resistance is also confirmed via the weekly chart.
3. There was continued chatter on tuesday night and picked up wed morning to the potential extent to the 28nm production issues. Was the market a full 24 hours late to the chatter? With QCOM trading at trailing multiples near 10year lows, how much more of a discount will the market give QCOM?
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