[habitue]

Assuming your premises are true (Microsoft is done, LinkedIn is done), this isn't evidence for a bubble. The stock of these two companies could be priced perfectly right for their current and potential profits, and yet they might also be doomed. This might indicate (again, given your premises) that Microsoft is looking to find new sources of revenue, which would result in raising their stock price.

By saying this indicates a bubble means you think LinkedIn and Microsoft are overvalued in some way. Whether or not that's true, this particular move isn't evidence of being overvalued.

[sbardle]

Thanks for your considered response. You could well be right, but for the moment, I'd put a red-hot poker in my eye if LinkedIn is worth 26 big ones.

Long term, tech is a great place to be, but this is getting silly, surely.