Where to now GOOG? After recently reporting their Q1 earnings report and getting a wildly enthusiastic response from both investors and analysts alike, GOOG has pulled back, and closed the Friday session at $370.02. Considering that GOOG closed at $440.50 just as recent as April 24th, this is quite a considerable pullback. What happened, and what can GOOG do to get back on the positive momentum track? First off, it’s not a big surprise to see a pullback after a well-received earnings report. Combine that with a recent weak market for tech stocks due to less than stellar reports from the likes of MSFT and INTC, and you have a recipe for GOOG weakness. GOOG derives most of its momentum from earnings reports and upgrades, and there really hasn’t been much news flow out of GOOG lately. If I were to guess, I would say that GOOG is going to bottom out here in the $360 - $365 range, and then remain pretty much range-bound until their next earnings report, barring any major new news. The company itself seems stronger than ever, but the actual stock price can fall victim to the oft-changing mood of investors and analysts alike.
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