Facebook's Follies: Tech Weekly Recap
NEW YORK (TheStreet) -- Following the media blur that was Facebook's(FB) recent IPO, this week in technology was relatively quiet, with earnings from Dell(DELL) and HP(HPQ) leading the way amid yet more fallout from the Facebook offering.
Facebook's IPO has been heavily criticized for a variety of reasons. Some of the more notable ones are the lack of a move higher on its opening day, allegations of improper disclosures to select clients by Morgan Stanley(MS) , the lead underwriter, and the continued poor performance of shares.
Needham analyst Laura Martin initiated coverage on the social networking giant with a $40 price target this week and rates the shares "buy," calling the company "an option on the world."
Martin says Facebook's revenue-generating ability is only just starting. The company deserves a premium to Google(GOOG) because "the risk an investor takes in buying FB is lower than Google's at its IPO date."
Facebook also announced its own camera app on Thursday, Facebook Camera for iPhone.
The new app makes photo sharing easier, Facebook said, allowing users to share multiple photos at once, caption pictures, tag them and put their locations on them.