Massucci's Take: Google leads growth on Internet, but not whole tech sector

Google earnings

and IBM earnings were both reported late Thursday, and the tech sector listened. Today, the tech-heavy Nasdaq is falling more than 1 percent, with IBM leading the way lower, falling more than 4 percent.

Google (GOOG)'s shares are up 4 percent, but the old adage -- as IBM goes, so goes tech -- is otherwise proving true. As much as Google's going public in 2004 made it the sexiest name in the tech sector, it has yet to supplant IBM as a bellwether of things to come. So what trends does Google indicate?