Amazon shares take a ride down South with Google

Posted Dec 19th 2006 3:30PM by Brian White
Filed under: Bad News, Rumors, Industry, Internet, Google (GOOG), Yahoo! (YHOO), Amazon.com (AMZN)

Internet stock profit-taking has commenced, as the share prices of Yahoo! Inc. (NASDAQ:YHOO), Google Inc. (NASDAQ:GOOG) and Amazon.com, Inc. (NASDAQ:AMZN) has fallen recently. Amazon shares gained more than 1% in Monday's trading on the news that total online shopping between Nov. 1 and Dec. 15 stood at $19.48 billion -- a 25% increase from the same period last year.

As what happens sometimes, profit-taking took a firm grip on Amazon shares, which erased all the day's gains -- sending shares of Amazon down 1.9%.

But Amazon was not the only Internet stock to see a torturous up and down ride Monday. Shares of Google lost 3.6% to finish the trading day at $462.80. Why? This time, there were concerns on Google's diminishing interest income, and those fears outweighed data that showed it continues to gain share in the market for Internet searches. Gain in search marketshare equals increase in ad revenue, yes? Not sure that the share-lowering fears were justified when looking at the big picture.

Tags: Amazon.com, AMZN, GOOG, Google, Yahoo!, YHOO