GDP number is higher than expected and it probably will be revised down. The market will have a relief rally today. I still expect the market will be range bound this year.
MSFT had a good quarter and I expect it will have a good year for MSFT because of Window 7 (Ironically, the high demand for window 7 is due to the poor performance of Vista). MSFT will trade between 28 to 33.
AMZN also had a good quarter but the valuation is too high. The fair value is $75 which is 25 times 2010 earning.
Ipad from Apple is going to do ok but I doubt it will become blockburst like ipod or iphone due to crowded market. And for most people, if you can buy a good note book around $400 then why spend $599 for a Ipad.
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