Google almost...

Started by Super Dave, October 30, 2007, 04:02:33 PM

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Super Dave

Almost hit $700 today.  Wow!
Super Dave

J Farrell / Speed Tech Motorsp

What are you talking about?
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superspud

CCS MW Am #778

wolf44

Quote from: Super Dave on October 30, 2007, 04:02:33 PM
Almost hit $700 today.  Wow!
Thats definately in my list of "wish I would have" 's
Quote from: benprobst on July 28, 2008, 11:24:05 PM
Huh, guess I was wrong,
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Super Dave

I play a bit.  I just took my profits, but I'm hoping it has some resistance and drops down a bit so I can buy again.   :biggrin:  I need to retire some day so I can spend some time with my family.
Super Dave

Court Jester

i've been buying yahoo stock for a while now. i assumed google would hit their wall and start dropping back when they were at $550. i should have got it then. but yahoo's doing well thus far.
CCS# 469
WWW.SUPERBIKESUNLIMITED.COM


Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming "WOOOHOOO! What a freaken ride"

Super Dave

Yeah, Yahoo looks good.  Lots of valuation, and lots of industry money.  I should trade some of that.
Super Dave

Court Jester

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Google tops $700 mark; Wall Street sees more gains

By Dan Gallagher
Oct 31, 2007 16:13:00 (ET)


SAN FRANCISCO (MarketWatch) -- Google Inc.'s seemingly unstoppable stock set a new milestone Wednesday morning, topping the $700 mark to set a new all-time high for a company whose market value has already jumped by more than 50% for the year.

Google shares closed the day at $707 - up 1.8% from the previous session. The stock got a small lift after the Federal Reserve cut interest rates for the second time in six weeks, which gave a boost to the overall market.

At $700, Google has a market capitalization of more than $218 billion, which would rank it fifth largest among components of the Dow Jones Industrial Average.

The company's market cap is on par with that of Proctor & Gamble (PG, Trade ) and slightly below that of AT&T (T, Trade ).

Both Microsoft (MSFT, Trade ) and General Electric (GE, Trade ) are higher, with oil giant Exxon Mobil (XOM, Trade ) topping the list with more than $500 billion in market cap.

Google (GOOG, Trade ) has been on a tear for the past six weeks, jumping from the low $500s in early September. The stock passed the $600 milestone on Oct. 8 -- just 10 days before the Web search giant posted a 46% jump in third-quarter profits, beating Wall Street's estimates despite a sharp rise in hiring.

The company has seen active trading this week amid fresh speculation about its plans to enter the wireless business, including a potential deal with wireless carrier Verizon.

Analysts have been optimistic about the company's wireless plans, but they point out that any such efforts will take a long time to yield meaningful profits.

"We view Google's strategy as key to maintaining its dominant position in search and accelerating the evolution of the mobile search market," Jim Friedland of Cowen & Co. wrote in a note to clients on Wednesday. "However, we think the mobile search market is going to take a long time to reach critical mass from virtually zero today."

Even at $700, Google shares sit at the low end of Wall Street's price targets for the stock. Current targets range from $630 to $850, with the median set at $730, according to data from Thomson Financial.

At least half a dozen analysts are predicting the shares will top $800 within the next 12 months.

"We believe that, given the expanding opportunities, there is potential for higher estimates and multiple expansion, and that this price target may prove conservative," wrote Steve Weinstein of Pacific Crest, who boosted his target to $850 from $600 after the company's third-quarter report.

Others are less bullish. Scott Kessler, an equity analyst at Standard & Poors, says investors are pushing the shares to new heights as they're "growing more and more optimistic" about the company's prospects in 2008 and beyond. But he has a $670 price target on the shares, predicting that Google will see more competition.

Even at the high price, Google's valuation is relatively moderate compared with that of other Web stocks. At $700, Google trades about 36 times estimated earnings for the next four quarters. Arch-rival Yahoo (YHOO, Trade ) trades at more than 60 times estimated earnings.

According to relative valuation data from Thomson, the average forward price-to-earnings ratio for the Internet sector is 41.5.

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CCS# 469
WWW.SUPERBIKESUNLIMITED.COM


Life is not a journey to the grave with the intention of arriving safely in a pretty and well preserved body, but rather to skid in broadside, thoroughly used up, totally worn out, and loudly proclaiming "WOOOHOOO! What a freaken ride"

Super Dave

Pretty impressive, really.  For the overhead of owning, there are other stocks that one could make more money on.  But Google is at least continuing to go up.  Nice, solid investment.
Super Dave

dylanfan53

Quote from: Super Dave on October 31, 2007, 06:31:16 PM
Nice, solid investment.
Congrats on your return.  I'm happy for you.

In 2001 Cisco Systems was a solid investment at the equivalent of $82 (adj. for split).  30 months later it was $8.  That hurt.  :spank:   

Gamble if you like.  I know you're a big boy...but don't buy more than you can afford to lose.   

     
Don Cook
CCS #53

Super Dave

Yeah, that's why they make stops.

As for gambling...

Social Security.  Maybe that's not gambling?  It's never going to be there for me, and we're required to contribute.
Super Dave

BadBoyRR

OPTT  Volatile but interesting small. Fun to watch for both day traders and long term. I really like their concepts and had good luck riding the waves.  Check it out, I believe it has potential.

Currently playing on e-trade, what is everyone else using?