I prefer to look at a 5 year chart comparing Qualcomm to ATT.
OK, how about WorldCom?
OK, how about the big cheese, MicroSoft?
Wow, QCOM has twice the growth of MicroSoft?
Yeah, if you were an idiot, and bought QCOM at 150 in late 1999, you lost your shirt. But then, you were gambling, playing momentum, and you deserved to get taken. Investing requires some knowledge of fundamentals, and a long-term outlook. If you have that with QCOM, you got in early, and made a bundle.
At the end of 1999 there was a huge, artificial blip as the bull market spent its final fury, but when the market settled down, QCOM went to a reasonable level, and it has been trading there ever since. It has been fluctuating between 45 and 70 for the past year, and will probably continue to do so, until 3G takes off. Then...who knows? If I did, I'd be rich.
Oh, yeah, I am.