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Will There Be A "Facebook Effect"?

Facebook announced the date for their IPO today. Will this IPO be a catalyst for technology stocks going forward? Without a doubt there is a business plan to "annihilate the competition" as they say in the tech world. Using Facebook as a platform it is interesting to speculate how Mark Zuckerberg intends on branching out. Clearly he has great ambitions. I see the possibility of ferocious competition in whatever area Facebook intends on "assaulting" as a positive for the entire industry. As a consequence i say "there will be a Facebook effect" and I would buy the tech space upon the fact of the IPO. This is especially true if we get some type of "tech swoon" going into the IPO. My favorite picks are Microsoft, Intel and Oracle...which while far from revolutionary have much to gain in the build out of the Social Media space.

Disclosure: I am long MSFT, INTC, ORCL.