Google Plunges, No Joke
Posted by: Rob Hof on January 31, 2006
Only a month ago, I made some mock predictions, though I actually expected this first one on the list to happen—just not so soon:
* Google’s stock price will fall after its profit growth plummets to 80%, prompting a spate of hand-wringing magazine cover stories on “what’s gone wrong” at Google.
Today, Google just announced that its profits rose a mere 82%. The stock’s down as much as 19% after-hours. No magazine stories yet, but give it time. As amazing a company as Google is (and make no mistake, it still is), you have to wonder about those 29 analysts with buys on the stock. It just seems like no company could live up to the high expectations forever.