Yahoo is 1/10 of Google. This management team will close that gap . . . and, at least, in the short term, the expectation that the gap WILL close will make many bet now while the betting is cheap. On speculation alone the market cap of Yahoo will soon be 1/5 of Google's . . . that puts the stock in the low $40's . . . . the unknown that Alibaba offers will aid in the stock appreciation well before Alibaba does IPO. Way too many favorable speculative factors to not think this gap will narrow and soon. Yahoo will be a bigger player in the short term . . . how soon before the completion of the stock buy back is announced?
Yahoo has demonstrated over the last few quarters that they are not going to disapear. They can't be dismissed as "irrelevent" when they have so many widely used properties. MM's mobile strategy looks perfect to keep them in the game in the coming years. I see their cap going up dramatically at the first signs that her execution is working because then there will be a double play; Alibaba, YH Japan, cash and buybacks PLUS Yhoo revenue growth. The risk reward will be compelling in that scenario. All she has to to staunch the shrinkage and deliver some promising numbers and 30 here we come. So far she has been really effective.
I fully agreed with you. Going forward it is all Mobile, Mobile, Mobile business. YHOO with FB and GOOG are leading the pack. But YHOO and FB got the biggest users, however YHOO is mostly number 1 ,number 1, number 1 in many categories in Web content (finance, sports, news, entertainment) and this huge in Mobile Ad business.