Google Blows Past $600/share
Oct 9th, 2007 by Shaun Carter
As you know I’ve mentioned purchasing shares of Google a couple months ago at $500 per share and since then the stock has begun a tremendous upward move, blowing past $600. It is very interesting to note that Google now has a market value higher than that of Wal-Mart - a true testament of the reach Google has on the Internet.
Many analysts are calling for Google to continue on a tear and head to $700, but I think a lot of that will depend on how good the earnings report comes in and whether G misses estimates again. There is now also rumor that the Fed will continue its rate lowering path and continue to pump money into the economy to ward off any more credit problems and jump start the economy.
I don’t plan on picking up more Google until after I see the earnings release, but even compared to other tech outfits Google trades at a very cheap P/E multiple of only 50 considering its high year over year profit and revenue growth.
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