Take Profits on Google
Google reports earnings after the market close today, a report that has been highly anticipated by the investing public. Gearing up for this earnings release, analysts have both lowered and upped their estimates. Regardless of what happens, I believe that prudent investors should take some profits considering that the stock has run up over 30% over the last 3 months. Google’s search market share remains strong, but advertisers are cutting back on their spending, specially smaller advertisers who are really feeling the pinch of consumer weakness.
Long term, this stock is still a buy, but in this market, thinking long term is probably a dead man’s folly. I’d sell some of the stock here and buy it back if and when it pulls back.
– Faisal Laljee
Full Disclosure: I do not own GOOG but my position can change anytime without notice.