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Piper Jaffray Thinks Internet Safe In ’08

Much-despised ads may save us all

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At this point, filling a fallout shelter with food and cash may be the safest approach to 2008′s financial markets.  Failing that, though, Piper Jaffray thinks some of the stronger Internet corporations should provide a safe haven.

"While we do remain concerned with the macro economic concerns (housing, oil, retail sales, unemployment, and slowdown in corporate spending), we continue to expect most Internet companies to continue to deliver solid fundamentals and believe that valuations are currently discounting much of the economic concerns," a new report states.Piper Jaffray Thinks Internet Safe In '08

Getting still more specific, the Piper Jaffray report (excerpts of which appear in MediaPost) also indicates, "Whereas Internet advertising budgets were the first to be cut during the market crash in 2000, we believe the proven high ROI of online advertising today will make online advertising resilient even with a recession in the United States."

Admittedly, some experts pointed to a bursting of the Web 2.0 bubble long before many other economic problems came to light.  Also, Google’s stock has declined by about $60 per share in the last month, and it’s at the center of Piper Jaffray’s predictions.

Meh, who knows.  If you’ve got some spare time, maybe it’s best to start excavating the backyard, just in case.

Piper Jaffray Thinks Internet Safe In ’08
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