Google's shine needs a good buffing for some investors

Google is getting no love from the market. The phrase "what have you done for me lately" seems to resonate with some giddy GOOG investors who, for some unexplained reason, continue to want the Google folks to awe the market and the media by keeping up with a steady stream of market-disrupting products. While I'm not sure that is the focus of Google's mission these days (or any days), it has said that releasing products early and often is a large priority.

But Google has been on a roll this year as well -- with even more recent product releases (Google Checkout, Google Spreadsheets, etc.) and several high-profile partnerships -- most notably, with MySpace.com. Yet the Street reacted mostly with yawns. I guess Google must have new releases every two weeks or the bloom will be off the rose with many short-tempered hype investors.

Are Google shares just following a seasonal trend of being lower as referenced here? Most likely, this is partly the culprit, but not all. It's amazing that a 0.2% to 1% slip is U.S. search marketshare can send jitters down the spines (as it were) of GOOG investors. This is insignificant to me, even though a 1% decline probably means hundreds of millions of searches in the big picture. Maybe that's why the jitters arise. But, taking a longer view, the "freak out" mentality just does not make sense. Does it to you?

Brian White has worked in various executive positions in technology and telecommunications and now focuses on editing and writing.