I think two major factors are at work here, in addition to Comscore's garbage analysis. The first is people are way too US centric when it comes to earnings given the global reach of companies like Google coupled with the decline in the dollar and strength in emerging markets. The second is people are not taking into consideration that while spending is net down in the US, spending is continuing to grow, perhaps even faster than in 2007, in places where people see an attractive proposition. This is the case whether one is talking about online spending or video games or Macs, etc.
Having said this I do think that Google stock should trade lower in the coming days but will be higher by year end.
$489.42999 (02/04/08)
