His proclivity for pumping stocks that he privately derided as “POS” (”pieces of s—”) aside, who better than former Merrill Lynch analyst Henry Blodget to comment on some strong first quarter earnings. Amazon reported a first-quarter profit that more than doubled as sales jumped 32% — a nice change for a company that has for eight consecutive quarters posted earnings that have dropped or failed to increase from the prior-year period. Said Blodget:
Amazon hasn’t become the company I hoped it would back when I put that $400 target on it ($67 in today’s split) in December 1998. It’s still a great franchise, though, and I’m still a happy Amazon customer. I don’t own the stock because I expect it to soar. I own it because… well, because I’m going to own it until it breaks through $400 ($67) again or goes bust, whichever comes first. I don’t even follow the company that closely anymore (too depressing). But last night’s quarter, and today’s 25% pop, certainly come as a breath of fresh air.”
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size. 11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
