“While uncertainty around margin erosion likely weighs on the stock, we believe the stock offers investors quality growth at a reasonable price,” said Benchmark analysts, who have a buy rating on Google and a $700 target price on the shares.
Some tech ETFs and their weightings in Google:
- Technology Select Sector SPDR (NYSEArca: XLK) Google 5.7%
- iShares Dow Jones US Technology ETF (NYSEArca: IYW) Google 6.4%
- Vanguard Information Technology (NYSEArca: VGT) Google 5.6%
Internet ETFs:
- First Trust Dow Jones Internet Index fund (NYSEArca: FDN) Google is top holding at 9.4%
- PowerShares NASDAQ Internet Portfolio (NYSEArca: PNQI)
Technology Select Sector SPDR
Tisha Guerrero contributed to this article.