But that doesn’t faze Lindsey.
"Although revenue per click (RPC) weakness may persist through the second quarter and possibly into the third quarter, we think the trend will reverse by the fourth quarter and restore Google's revenue growth to 14 percent year over year," Lindsay says.
So how much growth?
"I think you’re going to see a few years of solid growth for Google because you have a secular shift of more people going on line. And that trend could last for 3 to 5 years."
Lindsay has an "outperform" rating on the stock.
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Trader disclosure: On May 8th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (AAPL), (TGT), (WFC), (GS), (PCLN), (GE), (SDS), (AGU); Adami Owns (AGU), (C), (GS), (INTC), (MSFT), (NUE), (BTU); Finerman's Firm Owns (MSFT) And Is Long (MSFT) Put Spreads; Finerman's Firm Owns (UNH); Finerman's Firm And Finerman Own (WFC) Preferred Shares, Finerman's Firm Is Short (WFC); Finerman's Firm Is Short (IJR), (SPY), (MDY), (IWM), (USO), (BBT); Terranova Owns (XBI), (GENZ), (ABT), (BP); Terranova Is Short (XOM) Call Spread; Terranova Owns (MS) And Is Short (MS) Calls; Terranova Owns (DIS) Call Spread; Terranova Is Short (JPM), (BRCM), (POT), (X), (WYNN), (JOYG), (HES); Terranova Is Short June Crude Oil Futures; Terranova Is Short June Natural Gas Futures
Terranova Works For (VRTS): Terranova Is Chief Alternatives Strategist Of Virtus Investment Partners, Ltd.: Terranova Is Co-Portfolio Manager Of The Virtus Diversifier PHOLIO
Virtus Diversifier PHOLIO Owns (IGE), (DBC), (DBV); Virtus Investment Partners Owns More Than 1% Of (ABD), (ARE), (CAL), (DLR), (EPR), (EXR), (IGE), (MEE), (DBC), (DBV), (DBA), (SKT), (UA), (CLB), (WBMD); Virtus Investment Partners Owns More Than 1% Of St Mary Land & Exploration Co; Virtus Investment Partners Owns More Than 1% Of Seagate Tax Refund Rights
GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Charles Schwab Is A Sponsor Of "Fast Money"
For Jeff Lindsay
Accounts Over Which Bernstein And/Or Affiliates Exercize Investment Discretion Own More Than 1% Of (GOOG)
Bernstein Is A Market Maker In (GOOG), (YHOO), (BIDU)
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