Yahoo, eBay und Google reporten nächste Woche ihre Quartalsergebnisse für QI/06. Die Analysten erwarten „Aging-bedingte“ Berichte, Marketwatch.com:
Importantly, given the increased competition from traditional media and startups as places for consumers to entertain themselves, inform themselves or to shop, investors will gauge whether the Internet companies command the premium valuation they’ve enjoyed in the past.
Currently, the big cap Internet companies sport a price-to-earnings growth multiple of 1.4, according to Goldman Sachs analyst Anthony Noto. This is below the historical 1.8 ratio.
The fact that investors aren’t willing to pay that multiple suggests they believe growth expectations are high. Indeed, across the big-cap board, the Internet leaders of today are showing signs of aging. Yahoo and eBay are well beyond delivering 100% year-over-year growth for sales and earnings. And, in 2006, analysts have Google’s growth steadily eroding below that mark as well.
Es wäre mE nur zu schön, daß die drei Giganten – ok, Amazon fehlt noch – schwächeln und damit langsam ihre Dominanz verlieren. Aber da wird man wohl noch etwas länger warten müssen, bis wir am Markt mehr oligopolistische oder gar polypolistische Verhältnisse haben werden.
