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Google ‘Better Than it Was 15 Minutes Ago’: Baker

Google's mobile and search businesses have enough potential that buying on a dip after its devastating earnings miss remains a good idea, Simon Baker of Baker Avenue Asset Management said Thursday on CNBC.

On "Fast Money, " Baker kept a positive outlook on the stock.

(Read More: How Are You Playing Tech Earnings? )

"We reiterate our buy here, " he said. "Any time a company preannounces and doesn't hasn't had a chance to explain some of these big costs, like the Motorola acquisition, etc.

(Read More: Google's Miss 'A Surprise' to WPP CEO Sorrell )

"I'd buy it here. It's better than it was 15 minutes ago."

Earlier in the show, Baker made a bullish call ahead of Google's quarterly earnings report, which were released early. "Google's right in the middle of search. It's just positive all the way around, " he said. "Go long Google into earnings tonight."

Stephanie Link, CIO of TheStreet, agreed after Google's stock price plummeted.

"I think this is company that has very good growth — double-digit growth, " she said. "Let's learn about their cost-per-click, but I think that's in the process of bottoming."

Trader disclosure: On Oct. 18, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC's "Fast Money" were owned by the "Fast Money" traders: Stephanie Link is long AAPL; Stephanie Link is long JPM; Stephanie Link is long SBUX; Stephanie Link is long VALE; Stephanie Link is long DG; Stephanie Link is long LRCX; Stephanie Link is long EBAY; Jon Najarian is long call spreads in JPM; Jon Najarian is long call spreads in SBUX; Jon Najarian is long call spreads in FB; Jon Najarian is long call spreads in MSFT; Jon Najarian is long call spreads in AMZN; Jon Najarian is long call spreads in VZ; Jon Najarian is long call spreads in RGP; Jon Najarian is long call spreads in MHP; Jon Najarian is long call spreads in FRX; Jon Najarian is long call spreads in CIE; Jon Najarian is long call spreads in BTU; Jon Najarian is long call spreads in ACI; Jon Najarian is long call spreads in ANR; Jon Najarian is long STSI; Jon Najarian is long GLUU; Jon Najarian is long CME; Jon Najarian is long CBOE; Baker Avenue is long HYG; Baker Avenue is long IWM; Baker Avenue is long MDY; Baker Avenue is long F; Baker Avenue is long HAL; Baker Avenue is long KOL; Baker Avenue is long NFLX; Baker Avenue is long BK; Baker Avenue is long MS; Baker Avenue is long AAPL; Baker Avenue is long WFC; Stephen Weiss is long QCOM; Stephen Weiss is long SWFS; Stephen Weiss is short AAPL PUTS.

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