Hmm… See the full article for more perspectives
In a note to clients, Citigroup analyst Mark Mahaney says he expects Internet search to see its first ever sequential decline in the first quarter of 2009, adding that the result will be a "drag" on Google's revenues. While Google is still expected to pull out a 2% sequential gain in revenue that quarter, Mahaney says "that assumption may now be at risk." The news isn't unexpected, considering the current economic climate, but what's interesting is the commentary accompanying MarketWatch's report of the story.
For the most part, commenters say they think Google is overpriced, especially since it's still a one-trick pony in terms of making the bulk of its revenues from search advertising.