Move Over Google Yandex Is On the Move
October 3, 2012
Who would have thought that someone would be able to challenge Google’s mighty search power? Investors noted that “Yandex Building Right Side of Base as Competition with Google Builds In Russia.” Yandex is Russia’s biggest search engine and its stock has gained valued in seven of the past eight weeks. Russia has become Europe’s largest population of Internet users, boosting Yandex to the top of the search engine popularity lists
Yandex stocks have garnered interest in investors:
“Also, Yandex’s Accumulation-Distribution Rating has soared to a best-possible A+ from C- at the end of June, indicating that institutional investors find the shares attractive. In fact, fund ownership jumped 20% last quarter, including a new position started by the highly ranked Columbia Acorn Fund.”
To extend its reach, Yandex is headed to the mobile search market and the search engine has also started a mapping service. One of its primary goals is to decrease its dependence on Russian advertising by trying its lot in Turkey. Like anything these days, however, Yandex’s success fluctuates with Russia’s economy, but profit is expected to continue to for the rest of the year. Yandex has its job cut out for it in the US market. Google is so ingrained into the average US’s citizen’s daily life: maps, mail, social networking, documents, etc. that Yandex will have to up its offerings and services to compete.
Whitney Grace, October 03, 2012