Google can say what it wants, the blogosphere's anti-Google campaign definitely hurt them, oh yeah. Today's WSJ;
More Punishment for Google
Google CFO George Reyes told CNBC that the Internet search engine's revenue growth rate was slowing to an "organic" pace and that recent efforts to milk more revenue out of search technology had gone about as far as they could go. Organic may be a desirable trait in food, but not so much in revenue growth, and Google's shares dropped 8%. Not so long ago, Google was the darling of Wall Street, with analysts trying to outdo each other with ever-higher price targets for Google's skyrocketing shares. But Google's honeymoon ended in an ugly way after the company reported disappointing earnings in its latest quarter, and its shares -- which once seemed on the fast track to $500 -- have fallen 17% in less than a month to about $360. Truth be told, the idea that Google's revenue growth is slowing is hardly earth-shattering. But Google's high stock price targets hinged on the hope that new innovations and products would keep the runaway growth of its earliest quarters continuing for years to come.