Most experts are proclaiming buy on weakness this am, as the selling is way overdone/oversold. Competition will not be a major factor anytime soon, and Qualcomm will still be the leader of the pack when the landscape dust clears and there is even less players in the industry(mobile), but not this year anyway. Qualcomm is still way ahead in R&D and tech available now, and will keep on innovating to keep that lead. Any margin weakness was explained quite well with the different markets and how the developed market will be much higher next half of the year. IF not, would they not have warned or guided lower? Buy low sell higher, and this price is definitely too low.