Yes Google has been a good stock to hold for some incredible gains. I have been following and trading GOOG since its IPO. I wish I would have just held it. The topline and bottom line are starting to flatten. I agree with Cagsil that it is not a demise but I think it will be moving into a Intel or Microsoft type of metric. Large growth is behind ole GOOG. The last few Earnings announcements have shown it.
I don't do comparative investing. YHOO and GOOG are totally different. If one wants growth, they should look at BIDU. I will warn, however, that BIDU is quite a risky investment.
I think GOOG is going to be fairly stable. It has lost a lot of its beta.
The question is at this point if we are going to look for value why don't we look for companies like FCX or COP. I am not downplaying GOOG and for those who have long term investment horizons it will probably be stable. I currently would not be in the accumulation mode right now.