Internet Market Close Report for 1998.05.06
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|06-May-98||% change||point change|
|ISDEX Price Wtd.||1,673.22||-1.59%||-27.03|
Despite the results, which seem mostly favorable, AOL gets downgraded to hold from buy by Prudential today, on valuation. In related news AOL agrees to acquire struggling Internet TV outfit NetChannel's assets, terms undisclosed but probably a firesale.
Interesting note: while Microsoft's WebTV gains market share in the hybrid Internet TV space, cable firms seem to be lagging the opportunity. All they need is a small add-on box to the current cable box and instant Internet TV is born to millions today, not in the future but right now. Does AOL need a cable partner?