Who will be the next Facebook? Wait! I’ll take that back. That doesn’t seem right anymore. A year ago, that might have been ok. Facebook as a startup before the IPO was quite a success, in terms of popularity, considering the number of users that have joined the social site. There were so much hype how much the company was worth.
Facebook as a company, after the highly anticipated IPO is quite another story. Facebook (FB) opened at $38 on IPO day. Today, a few months later, FB is faltering at $17.73. And it could go down even further. There doesn’t seem to be an end in sight. From an investment perspective, FB as a company is a major disappointment.
It’s a good thing, I don’t own any stock. Asking the question, who will be the next Facebook is no longer relevant. It has lost its meaning, luster, and it doesn’t really apply anymore. All this time, we should have been asking, who will be the next Apple.
Apple’s stock price has multiplied 56 times just the last ten years. Apple’s stock was a mere $12 a decade ago. If you have invested $100,000, you would have $5.6 million dollars today. That’s what you call a spectacular investment. For Facebook to get to even come close to what Apple has done is wishful thinking.
All along, we should have been asking, who will be the next Apple?