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Is Google following Apple's lead?

April 8, 2013: 1:10 PM ET

Google's stock is down 9% from its all-time high but there's still room to fall before panic should set in.

Apple may not be the darling of every investor's eye but Google is starting to lose some love too.

Just a month ago, shares of Google were well on their way to $900, with some analysts even calling for Google's stock to hit $1,000.

Even though shares are still up 9% for the year, they're moving further and further away from their March 6 all-time high of $844.

What helped propel Google (GOOG) in the first place?

A report over the weekend from Barron's credits Facebook's (FB) botched IPO for Google's recent run. Seems counterintuitive but the disastrous debut reminded everyone of the dotcom craze (and ensuing crash and burn). As investors and analysts regained confidence in Google's search business, and its ability to turn a profit, the company became a dominant force, according to the Barron's article.

So much so, that it helped knock Apple (AAPL) off its pedestal.

Shares of the iEverything company are down 20% so far this year. In fact, Apple's stock has slumped nearly 40% from its all-time high of just above $700, hit last September.

It might be too soon to say the bloom is off Google's rose, but StockTwits traders have turned cautious.


$AAPL strength = $GOOG weakness & vice versa. #spread

CoderTrader may have spoken a little too soon. Granted Apple is only down fractionally today but it's gotten hammered this year. Maybe the next iteration of the iPhone will help turn things around.

$GOOG lots of traders expecting a bounce early this week. Makes me wonder if we don't just blow through fri bottom unexpectedly.

There's definitely a nervous vibe out there. But the old adage 'you can't buy something new 'til you throw something out' may be coming to fruition.

Last month, Google announced it was shutting down Google Reader as part of its annual spring cleaning.

Monday brought speculation that Google may be willing to pay $1 billion for mobile messaging app WhatsApp. And Google may also be getting ready to launch its second fiber optic network, Google Fiber, in Austin, Texas.

$GOOG wow did this become broken fast. my stops are miles away. Long term trend following can be miserable at times Bullish

Good call howardlindzon. It's way too soon to say Google is headed for a sustained slump. Hang in there.

$GOOG it seems counterintuitive / but so is #market always - u don't want to catch falling knife so we wait 4 confirmed bounce b/f new longs

I couldn't agree more. We've seen stocks hit new record highs this year and we're not even 6 months in. I would expect pullbacks and mini-corrections across the board.

  • Facebook: Investors snub search tool

    Click the chart to track Facebook's stock.

    Facebook CEO Mark Zuckerberg announced a new search tool at a highly-anticipated press event Tuesday.

    The new feature, dubbed "Graph Search," allows Facebook users to search their own network of connections for people, places, photos and interests that have been shared on Facebook. For example, users will be able to search for "friends who live in my city," "photos of the Eiffel Tower," or "music my MORE

    - Jan 15, 2013 4:10 PM ET
  • Facebook stock surges as Zuckerberg remains optimistic

    Click the chart to track shares of Facebook.

    Facebook's stock rallied almost 8% and closed at a 1-month high Wednesday, a day after CEO Mark Zuckerberg took an upbeat tone during his first public appearance since the company's botched stock market debut in May.

    "I am really optimistic about our mobile monetization strategy," Zuckerberg said during an interview with TechCrunch founder Michael Arrington at the tech blog's Disrupt conference in San Francisco MORE

    - Sep 12, 2012 4:04 PM ET
  • Google at 14: Better than ever

    Google is now a 14-year old company. A fitting birthday present may be a return to the stock's all-time high of just above $747.

    The opinions expressed in this commentary are solely those of Paul R. La Monica. Other than Time Warner, the parent of CNNMoney, and Abbott Laboratories, La Monica does not own positions in any individual stocks.

    Happy 14th birthday, Google!

    Sure, Google (GOOG) doesn't officially recognize its anniversary MORE

    - Sep 4, 2012 1:40 PM ET
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