We would therefore remain cautious about adding new money to online advertising-driven stocks until the first or second quarter, when we should have better visibility. We continue to believe that the first quarter will be the toughest quarter, with only 10 percent year-over-year growth.
More Quotes from Henry Blodget:
The majority of today's pure-play Internet companies will never make money and will not exist in three-to-five years. There will be a lot of consolidation and a lot of failure, and ultimately valuations will fall more in line with historical norms.Henry Blodget
We also continue to believe that the market is transitioning into a more mature phase of growth ... this will cause a shakeout and consolidation. As this consolidation continues, we believe the Internet spoils will increasingly go to the few, not the many.
Henry Blodget
We believe AOL and Time Warner are in the final stages of gaining approval from U. S. and Europe regulatory commissions. We do expect any concessions that would materially impact future performance.
Henry Blodget
The online advertising market appears to be stabilizing, but we believe it will continue to remain challenging for the foreseeable future.
Henry Blodget
I could see Amazon and eBay merging. Amazon operates in a huge market, but it's got lower margin revenue. eBay has higher margin revenues, but the secondhand and small-business markets will always be limited relative to the size of the retail market. Combine the two, though, and that could be a very powerful entity.
Henry Blodget
There continue to be three major growth drivers in the consumer sector traffic, advertising, and commerce. Traffic growth in the U. S. continues to slow, as more than 50 percent of the total market is already online. More importantly, we estimate that more than 80 percent of disposable income is already online.
Henry Blodget
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