QCOM

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.

2. Rumors of Samsung slow down of older phones and weak Lumina sales. Seriously, I mean, Seriously?

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?