Does GOOG Still Have The 'Mo?
A note out today by Jeffries says that their channel checks and anecdotal data from a recent conference lead them to believe that ad spending for FY06 could exceed their estimates.
They said that there were comments made at the conference that some companies do not see the weakness in the auto and finance verticals that YHOO recently mentioned. This leads me to believe that the weakness at YHOO could be both YHOO-specific as well as pressured by continued incremental share gains at GOOG. The analyst also said that GOOG continues to have the best momentum.
I recently added to our GOOG positions as the stock began to emerge from its consildation earlier this month. So I may be biased towards the name, but the datapoints continue to support my thesis so far.