Facebook Is Flying Too High Again
 

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Facebook’s solid fourth-quarter results may have assuaged investors’ fears, but Wall Street’s newfound enthusiasm for the social network seems to ignore the fact that many significant challenges lie ahead.

After two disappointing quarters, Facebook managed to report continued user growth and a nearly 30% jump in advertising revenue for the December quarter. Analysts were effusive, with at least 20 boosting their price targets on the stock. That helped Facebook’s share price surge more than 10% on Thursday—the best single-day…




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