Google Is a Sleeper

 | Sep 13, 2013 | 10:50 AM EDT
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What ever happened to Google (GOOG)? In all of the commotion about Twitter and the rip-roaring stock that is Facebook (FB), have you noticed that Google does nothing? Yahoo! (YHOO) has so much buzz. Buzzfeed has more buzz. What the heck is going on here?

My theory is simple: Google's last quarter was simply not as good as Facebook's, and Google seems to have fallen behind in mobile. It is almost as if people are saying that Google is the old-fashioned way to play the Internet, because it is all about search and not social, or, because of last quarter, mobile.

Google wasn't ready in the last quarter to talk about all of its mobile work and how it is also becoming the ultimate gatekeeper for all things advertising for mainstream advertisers. It is true that Google's social initiatives haven't taken off yet. But the idea that this company, which has so much that it can monetize, including Android and YouTube, has lost its edge is preposterous. The idea that we have one of those "Twitter's hot, Google's not" dichotomies is ludicrous.

Go back and read that last conference call. Notice how Google was talking about how it was about to have a huge breakout in mobile and in advertising for mobile. Now think about what happened when Facebook got it together.

I think Google is going to be a coiled spring. I like the November 860 with a 49 top. Gives you the quarter. Allows you to short some calls against it as the right point. Just a very compelling situation. 

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