Why Did Google Drop 15%?
UBS analyst Benjamin Schachter today set a 12-month target price of $160 for Google, making him at least partially responsible for the stock's 30-point decline since Wednesday. Schachter cited heavy competition from Microsoft, slowing revenue growth, pressure on profit margins, and the end of the lock-up period as the reason the stock will likely remain flat for the next year.
Somebody had to say it. Google's shares needed to go higher after the quarterly report, but not $65 higher. Google's shares are in much safer territory now, and I'm rooting for them to stay there until we see a real rason for them to rise.
(via Search Engine Lowdown)

- posted by Nathan Weinberg @ 11/05/2004 04:56:00 PM