>>the forward P/E for a price of $10 will be 30 or less. Pretty good for a company with triple digit growth.<<
First, I think the phrase "forward P/E" was coined in, like, 1996. When I ask my customers to give me next year's fees, they look at me stangely. You know, Micron was supposed to earn $9 a share this year, based on some 1995 "forward earnings" estimates.
Yahoo! will never earn $.50 a share. Ever, I promise. Neither will Amazon, or E-Trade, or OnSale, or any of them. They're all going to lose money for the next few years, and then everyone will wake and realize, "hey, everyone's on-line and we're STILL losing money!" Yahoo doesn't even have a product. Can you imagine being the CEO of Yahoo at a shareholders meeting in 2002, and pointing to a flashing banner ad on the Yahoo quotes page and saying, "We thought we'd make $200 million a year renting THIS." This is an absolute disgrace! |
