Yesterday Qualcomm (QCOM) fell below its stop loss of $48.11. Although Year to Date QCOM is down 3%, the S&P is down almost 9%. This shows that the decrease in stock price is for the most part attributable to the market decline. Technology experienced a large sell off yesterday. However, The two technology stocks the portfolio holds, Verizon (VZ) and QCOM, have bright futures. The iphone is expected to be released this September and QCOM will be providing the chips for it. Verizon has ran into issues with union workers striking. Many of the workers on strike work in the land line business segment which does not represent a large portion of VZ's revenue. Verizon is still the largest mobile phone provider in the US.
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