Did this POS actually manage to close higher today? Ok took one more shot at the long side since I was obviously too close to brain dead to have actually have bought some puts in the past 2 weeks.
CSCO, INTC, QCOM....the list goes on. If you make technology widgets it's just a matter of time before someone takes a piece of your pie.
I would put money in somewhere in the 300s, maybe like 330-380. Very skewed reward to risk there in my view, worst case scenario is the stock churns sideways for years a la MSFT barring a really spectacular collapse in the business, which implies many chances to exit for a ~25% gain or hold on and collect dividends with optionality to see 600+ again.
True. Look at INTC even though nobody considers AMD on any PC over $600. Just look at the hardware threads around here for an indication. Mature tech is not a good place to be. The spread on GOOG/AAPL has ran +$300 in six months.