Mixed news from Apple (AAPL) this week. The company blew the doors off estimates in June earnings, but warnings that next quarter won’t be nearly as rosy sent the stock tumbling. Not helping: Apple’s lawyers used the “D word” — depressed — in describing the economy in SEC filings.
So… looking for a recession-proof business? Well, when wallets are light, staying home with a DVD makes for a cheap evening. Netflix (NFLX) posted solid numbers on this note from CEO Reed Hastings: “We appear to be substantially unaffected by this significant economic negative climate.” Amazon also hit the ball out of the park during Q2, with shares jumping 24% from Tuesday to Thursday.
Google (GOOG) continues to expand in every direction at once. We’ve heard this one before, but there’s fresh rumours Google may acquire Digg. The company also debuted Wikipedia-wannabe Knol, a service About.com and Mahalo can’t be thrilled about either. So far, it appears Google is not giving preferential SEO rank to Knol. So far.
Meanwhile, Yahoo finally settled with corporate raider Carl Icahn. He’ll get a seat on Yahoo’s board, and seats for two of his friends — one of whom is likely former AOL CEO Jon Miller. Yahoo’s next move was to post lousy Q2 earnings. Icahn’s next move: More blogging.
The ebbing newspaper business isn’t just losing money peddling ink on dead trees, it’s losing money on the web too. The New York Times saw another dismal quarter for its investors. But Silicon Alley Insider will rescue the Old grey Lady! We’ll buy the digital division — nytimes.com — for $1 Billion. Seriously. Call us.