QCOM is only a $32 stock if you give it a 40 PE multiple --- the 98 cents of trailing EPS was inflated by fraudulently anticipating /estimating 18 cents of royalty income from 2005 and bringing it prematurely into 2004. See the news release on Friday. The 40 PE times 80 cents of real trailing earnings is just a $32 stock ----- Despite the admission of blatant accounting shenanigans why should the market reward the company by upping the trailing PE to over 50 to promote any short term advance in the stock price from this level ???? Maybe I'm wrong but I still am asking what's wrong with this picture???
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