$118.49. That’s the price at which Amazon shares closed Friday, a day after the company reported a 69 percent jump in third-quarter profit and a 28 percent gain in revenue. It was a new 52-week high and the stock’s best since December 1999, when it hit $106.68. Which is saying something. Because as you might recall, in 1999, Nasdaq was soaring on the back of the dot-com bubble to levels never before seen.
“I’d be very surprised if Google did not hit $500 by the end of the year.” Citigroup analyst Mark Mahaney said that just last week, and as it happens he has already been proven right. Earlier today, Google saw its shares cross the $500 threshold, setting a new 52-week high.
Wall Street is finally having its say about the newly announced Microsoft-Yahoo deal, and while opinions are mixed, there is some consensus on who got the better end of the deal: Microsoft. Seems the Street would have much preferred the “boatloads of money” Yahoo CEO Carol Bartz once said she’d demand for a search deal than the “boatloads of value” she claims to have given them this morning. After the jump, a roundup of analysts’ notes issued about the deal.
What spreads faster than economic gloom and doom, and is more infectious than professional anxiety? That phenomenon known as “25 Things.” Just in time for Facebook’s fifth birthday, the record-breaking waste of time may have reached critical mass this week. Elsewhere this week…
We continue to be big fans of this product. And we continue to believe that Amazon has a hit on its hands with this device. The problem is that Amazon (AMZN) sold out of these devices way too early this holiday period. And Amazon still doesn’t have International versions available. Hard to see a premier [...]
How well is Amazon’s Kindle electronic book reader really doing? Well, according to Citigroup’s Mark Mahaney, whose analytical prowess enables him to extrapolate sales figures from little more than Kindle’s sales ranking on Amazon’s Web site and from the number of customer reviews it has received, the Kindle is doing quite well. But according McAdams Wright Ragen analyst Tim Bueneman, who’s actually, you know, spoken with some Amazon officials, it might not be selling as well as Mahaney claims.
Amazon’s Kindle e-book reader may not be the iPod of the book world yet. But it will be some day if Citigroup research analyst Mark Mahaney has anything to say about it. In a report to clients Monday, Mahaney, who in May predicted the device would generate $750 million for Amazon by 2010, said the company could be on track to sell as many as 380,000 Kindles this year.
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.
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.
Best video mashup ever.
A Facebook Memorial
Wow.
Worth it for the Rickrolling photo alone.
Excellent.
Flughumor!
… you vacuous, toffee-nosed, malodorous perverts
Stephen Fry and zoologist Mark Carwardine meet the kakapo — a fat, flightless and very randy rare parrot.
Spectacular in the bellowing Russian sailor sense of the word …
“If you spell something wrong on your insurance claim, do you really deserve surgery? I don’t think so …”
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