Yahoo is cheap at bottom, 2012 reach $22 or higher after Jan 20, 2012...Alibaba IPO($50B or higher) might happen in 2012 or 2013...
Maybe MSFT wouldn't offer $47.5B($33) any more since it got the search deal.But if anyone else bought Yahoo, its search deal might be broken thus Bing would become a total failure without the 700M user support and ally of Yahoo.Four years ago, Alibaba worth really not much but nowadays, 40% Alibaba worth even more than Yahoo's current evaluation.Can anyone imagine what would happen another four years later? For option traders, that's too long to wait. That's why you guys only want to slide trading Yahoo.Look at Yahoo five year monthly chart, I am waiting for a major breakout to $22 this year.LOL
I think Mr. Ballmer would admit that the bid was a mistake. I know for certain that he has said that, in looking back, Microsoft was "lucky" that Yahoo did not accept their offer.I have know of NO reputable Analyst who believes that MSFT, or anyone else for that matter, would offer YHOO anywhere near $33 today.
Now Yahoo has 1.2B outstanding shares.If Yahoo keeps buying back its shares to reduce its shares to 1B, this along would make Yahoo shares worth $20 based on current evaluation.Not to mention Alibaba IPO would make Yahoo 40% Alibaba shares worth $20B($16) or more.
You need to review the Yahoo financials.Yes Yahoo has been buying their shares, but they've been reissuing them almost as fast.The outstanding share count over the last few years has NOT declined at the same rate as their share repurchases.