If I was an investor in Internet stocks, I’d be a little nervous after today’s warning from Yahoo!
Henry Blodget’s post called it the company’s third-quarter “wilt” and said even the almighty Google will suffer if the economy weakens and advertising slows.
Lots of other investors are thinking that way, apparently. At last check, Google was down nearly $11 and Yahoo! was down $3.
A beneficiary could be Microsoft. It’s up a bit today, probably because it seems like a safer bet now that Jim Allchin is saying Vista is “very close to being done.”
After his legal takedown, the guy who famously predicted AMZN would hit $400 during the boom is no longer a Wall Street analyst. Instead Blodget does consulting and offers tart commentary on his blog.