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Not a one-trick pony, a one-trick stallion.
Those were the words of Citigroup analyst Mark Mahaney this week before Google’s stock rallied past $400. According to another analyst, Google is so central to Internet commerce that the company’s growth correlates directly with industry trends. Analysts also noted Google’s research and development spending is up 86 percent to $900 million this year.
Meanwhile, Google’s share of the search market continues to climb as well. Hitwise released numbers yesterday that show Google has recovered from its slide below 60 percent market share in July.