“This was a really historic event last night,” said Mark Stahlman of TMT Strategies. “We had Microsoft , IBM and Intel , the three cornerstones of the digital establishment — the new economy — all beating and raising at the same time that Google , of course, missed so there’s something really important going on underneath this.”
He excluded Google, which missed its earnings expectationson Thursday, from the future new digital establishment.
“I think there is more going on behind the scenes there,” Stahlman said.
He added that the Internet is not as good an environment for advertising as people thought it would be.
“So there’s a shift that’s been going on — my friends on Madison Avenue tell me — for the last couple of years back to traditional media. That’s why the prices are coming down — not normalizing. They’re going to get lower.”
In order to be successful at this stage, a business must have the management depth and decades of experience necessary in order to have a strategy.
“These three companies really have a strategy, and it’s a global strategy to be sure, but we have tended to focus on the Googles, Amazons and Apple — very important companies certainly, but none of them have a strategy.”
Additional Views: Analysts Remain Bullish on Tech Sector Despite Mixed Results
Mark Stahlman does not own any of the stocks that he discussed.
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