The pending decision against Microsoft and the decline in the share price was absolutely the catalyst for the sell-off. To the extent these companies may do very well in the next year, I think there may be buying opportunities here.
More Quotes from Jonathan Cohen:
Internet stocks are going to continue to enjoy a special position in the investment firmament because these companies are growing much faster than anything else.Jonathan Cohen
We've almost now hit a point of almost buying panic where investors are afraid not to be in the Internet sector, given how strong it's performed recently,
Jonathan Cohen
America Online makes most of its money, most of its revenues from selling online conductivity services, ... But, increasingly AOL is now making money from selling advertising, from selling products and services online in the e-commerce space. And we think that's going to continue over time. Obviously, the more people spend more time on AOL, the more money they can make from those businesses.
Jonathan Cohen
Microsoft, I think, looks especially attractive at these levels. Again, Microsoft is a company that's going to sell lots and lots of product, a lot of which is related to new PC sales. But an increasing percentage of their operating business is away from that,
Jonathan Cohen
There's no allegation he tried to intimidate anybody. There's no allegation he even knew there was a potential victim within eyesight of him.
Jonathan Cohen
What we've seen over the last six months is a continuing trend toward higher-quality names across the Internet space. We think that's going to continue.
Jonathan Cohen
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