GOOG Upgraded From 'Overweight' to 'Morbidly Obese'
The Nasdaq started off the new year much as it ended the last–flaccid and frail.
While the research outfit predicts revenue growth for the overall Internet sector to decelerate to 21.2% this year from 25.6% last year, it says we can expect the earnings of the Internet companies it covers to grow by 34% in 2008. That’s more than four times faster than the S&P 500.
Among the biggest drivers of that growth: search. JPMorgan says worldwide search revenue will reach $30.5 billion this year, up from $26.2 billion last year. What’s more, it says it will go on to grow at an annual rate of 28% over the next four years, hitting $60 billion by 2011.
Looks like 2008 is going to be quite a year for Google. As will the years that follow.