With shares of Google (Nasdaq: GOOG) in the tank, bullish Piper Jaffray analyst Gene Munster is pleading his case again to buy the stock.
The main issue driving the downside in Google’s stock has been the view that the slowdown in advertising will have a large negative impact on the company, driving down paid click rates and company revenues. Google was a great stock because of its growth. Not only is growth slowing, but people are now worried about the company just sustaining its past sales and profit.
Gene argues that search is one of the most defensible forms of online advertising in an economic downturn.