Tuesday, January 18, 2005

Will Yahoo Deliver?

No question about it--Internet stocks have continued to rock and surpass the market averages. Yahoo, the internet content giant will report earnings after the close today. Internet stocks, which make money mostly through advertising, continue to impress: Travelzoo and Google, for example, have made huge run-ups. They're leaving Microsoft in the dust as the Redmond beast aims to develop a counter to Google's algorithmic prowess. (Now, Microsoft is being plagued by the growing word of mouth spread of Firefox--an internet browser made by a nonprofit company!) Goldman Sachs' Anthony Noto has been particularly bullish on the internet sector for a while now--he remains a strong believer in Yahoo. Friday saw Yahoo climb $1.37 in expectation of today's report--but is anyone looking at the charts? I see a head and shoulders formation.Careful.

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