QCOM-the IPhone play
The introduction of the new 3G IPhone did little to drive the market on Friday. For AAPL and T is was business as usual while RIMM headed south. As the squawk and chatter picks up about sales results we may see some upward movement.
Until then, who is the winner here? QCOM started its drive in March and broke above its trading range on Tuesday.
If you own QCOM, you enjoyed a 5% gain last week while the DJIA sets a new 2 year low. Way to go!
At $48.33 QCOM it is about $2.50 below it's 52 week high. If it breaks above $50.82 this week it's gonna fly.
Some times our best plays are just below the surface and I believe QCOM to be that play.
Post a comment
Please login to comment (or sign up here):