It's hard to find quality stocks that are still trading at reasonable levels and have some hope of growth in coming years. But I've found one.
What if I were to tell you there's a blue chip tech stock that's currently a bargain -- and what's more, it's successfully moving into so many new markets that buying the stock is like buying an exchange traded fund (ETF) for the entire tech sector?
Read on and I'll explain...
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We Told You So: S&P Does an About-Face on its Call to "Sell Google"
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When Standard & Poor's Equity Research downgraded the shares of Google Inc. (Nasdaq: GOOG) from "Buy" to "Sell" last week - and slashed its target price for Google shares from $700 to $500 - we were blunt in stating that the ratings agency had blown the call.
Looks like S&P must've heard us.
On Monday, just three days after downgrading Google, S&P did an almost-total about-face on its much-debated call - and upgraded Google shares from "Sell" to "Hold." Frankly, these ratings firms seem determined to operate in a flawed manner - the S&P/"Sell Google" saga only underscores what we've been saying since 2007, when Money Morning warned readers that these firms failed to warn us about the subprime-mortgage disaster. (Don't forget, it was another unit of S&P that downgraded U.S. debt earlier this month. That downgrade, to be really credible, should have been announced several years ago, during the height of the global financial crisis.)
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