“Analysts have also said that the uncertainty around Google’s future in China has weighed on its shares. The price target cut comes as Google’s application to renew its webpage license in China is under review,” Nandakumar reports. “Google’s shares have fallen more than 30 percent since the beginning of the year to close at $436.07 on Nasdaq on Tuesday after ending 2009 at $626.75.”
Nandakumar reports, “The brokerage expects Google’s quarterly revenue to decline about $30 million sequentially, affected by its decision to stop selling Nexus One phones online.”
Full article here.