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But the deal still appeared richly valued to some analysts.
For another, stocks are still richly valued compared with earnings.
With a market capitalisation of just over $27bn LinkedIn is, by any standard, still richly valued.
Under these conditions, other sorts of firms have stayed richly valued, too.
Monday's deal wasn't the only richly valued technology takeover in recent days.
Investors have piled into shares in recent years, leaving them richly valued by historic standards even after recent falls.
American shares may be richly valued relative to earnings, but they are less unhinged than in earlier booms.
"People thought in 2009 that fixed income was richly valued, except in subsequent years it became even richer".
And with its richly valued shares, it bought smaller equipment companies that were also riding the Internet wave.
But at the moment, this looks like the kind of healthy correction we should periodically expect in a richly valued market.
Another reason that investors seem to be broadening their stock search is that a number of richly valued companies have recently announced shortfalls in anticipated earnings growth.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com