Looks like Google’s share price is finally getting that “good old-fashioned correction” that’s been predicted for so long. Another day of widespread losses for technology stocks dragged the company’s once high-flying share price below $350 for the first time in two-and-a-half years. Google (GOOG) shares hit a low of $345.37 Tuesday. Seems those “freakishly high growth rates” associated with the company aren’t much good in this ugly economic climate. Google’s shares have now lost more than half their value since peaking near the $750 mark in November of last year. Most other tech bellwethers are in agony today as well. Microsoft (MSFT), IBM (IBM), Hewlett-Packard (HPQ), Cisco (CSCO) and Apple (AAPL) are all trading close to their 52-week lows.
John Paczkowski has been poking fun at the tech industry and the personalities that drive it since 1997. From 1999 to 2007, he wrote the award-winning tech news Web log Good Morning Silicon Valley for the San Jose Mercury News, Silicon Valley's daily newspaper. Read more »
Here is a statement of my ethics and coverage policies. It is more than most of you want to know, but, in the age of suspicion of the media, I am laying it all out.
12:58 AM: Breakfast: Two schools of fish from Tokyo Bay. Calories: 782,000. How I was feeling when I ate this: confused, irradiated, hating my size. 11:37 AM: Exercise: “Taxi Stomp” (alternating legs, for 30 blocks). Calories burned: 148,900,183.
1983. The Beatles announce their first tour in thirteen years, but likewise announce that Michael Jackson will be going on tour with them as a one gigantic mega-concert event.
Looks like Google’s share price is finally getting that “good old-fashioned correction” that’s been predicted for so long. Another day of widespread losses for technology stocks dragged the company’s once high-flying share price below $350 for the first time in two-and-a-half years. Google (GOOG) shares hit a low of $345.37 Tuesday. Seems those “freakishly high growth rates” associated with the company aren’t much good in this ugly economic climate. Google’s shares have now lost more than half their value since peaking near the $750 mark in November of last year. Most other tech bellwethers are in agony today as well. Microsoft (MSFT), IBM (IBM), Hewlett-Packard (HPQ), Cisco (CSCO) and Apple (AAPL) are all trading close to their 52-week lows.
