Analyst Defends Google (GOOG), Says Search Ads Will Hold Up Well

By Douglas A. McIntyre Published Nov 20, 10:03AM EST

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From StreetInsider

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.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.