This is a company that people bought and put away. But it was made clear in January that you couldn't do that. There is increased skepticism about eBay.
Nobody really believes that the consensus is what the company is being measured by at this point. It's some other number.
The magnitude of the beat is a lot less.
I'd hesitate to characterize this is as comparable to what was going on in the late 1990s. Not every Internet stock is doing well.
There are not a lot of opportunities in tech that are wholly secular plays as opposed to cyclical plays, ... This is a great company and a great stock.
No matter how big and successful you are, there is always the prospect in the blink of an eye that the business can go down for a period of time.
Now with Visa and MasterCard losing some power, it allows these smaller networks to compete.
As vulnerable as the Internet is, that is how vulnerable these companies may be.
There's not as much unbridled excitement about the offering now. A lot of technology and Internet stocks don't look nearly as appealing as they did in April, May or June.
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