The stock market, composed of millions of traders from individuals to hedge funds to massive pensions has massively undervalued Qualcomm. SM has singlehandedly and unbiasedly set the true value at >$80 a share! What genius! After he gets his parachute he should start his own fund and make billions as a captain of Wall Street.
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I'll take $70 no risk. For QCOM to get there on their own, they need 1) no royalty changes from Taiwan and South Korea, 2) to close NXP deal and generate cost synergies, 3) win U.S. FTC suit, 4) favorably settle with Apple, 5) hope Samsung, Huawei, Xioami, and Apple do not use their own modem or applications processor and abandon the Qualcomm integrated solution. Highly unlikely QCOM "runs the table" on all the above risks.
SM still believes his strategy is WORKING!
What a genius!