Google almost...

[Super Dave]

Almost hit $700 today.  Wow!

[J Farrell / Speed Tech Motorsp]

What are you talking about?

[superspud]

http://money.cnn.com/quote/quote.html?symb=GOOG

[wolf44]

Almost hit $700 today.  Wow!

Thats definately in my list of "wish I would have" 's

[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.     I need to retire some day so I can spend some time with my family.

[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.

[Super Dave]

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

[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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4 more messages   

[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.

[dylanfan53]

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.     

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

     

[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.

[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?

[Super Dave]

I use thinkorswim

What are you using for trade signals?

[tstruyk]

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.

more of a donation than a gamble... grrrrrrr

[Super Dave]

LOL!


Don't...

start...


   

[Court Jester]

i've never heard of thinkorswim. what is it?
I do everything through etrade and ameratrade and read the market/biz updates when i've got interests or nothing else to do.

[Super Dave]

Just another company.  http://www.thinkorswim.com

[Court Jester]

Thanks. i took a quick look at it but will try to spend a bit more time on  it when i get home. looks pretty good thus far

[r1owner]

Hey I watched some of the democratic debate the other night.  EVERY candidate has a plan to save Social Security... have a little faith! ;)

[Super Dave]

Considering that they are all senators and congressmen, they could impliment their plan now...but they are worthless, so...

[Super Dave]

LOL!  It's not becuase I have little faith, it's because I have complete faith.

[dylanfan53]

..."saving" it by increasing the tax limit to $200k from $97k.

As far as being there for you when you retire, it'll be there for you as long as you spend everything you earn now, don't save a penny and don't have a pension when you retire.  On the other hand, if you save or plan ahead to have any money at all there's a pretty good likelihood you won't see a dime back from the money you put into social security now. 

[Court Jester]

Hey I watched some of the democratic debate the other night.  EVERY candidate has a plan to save Social Security... have a little faith! ;)

Watching the political crap on TV anymore is like watching an over budget poorly produced reality show. Steve Colbert is our only hope.

[Super Dave]

Yeah, and they won't accept him.

[Court Jester]

i know. but wouldn't it be cool

[APP_Racing]

Yeah, got in around 400 and didn't have the stomach to keep it.  got out just over 5 bills.  MSFT has made a good run as of late and ENR has been a very good longer term stock for me.  I think it is somewhat overlooked but check out their charts.  I also own some Playboy (hasn't made a penny but its fun to own.)  Another stock to watch you might be interested in is NZ (for Netezza).  Its new but the company seems to be doing well.

[benprobst]

Yeah, got in around 400 and didn't have the stomach to keep it.  got out just over 5 bills.  MSFT has made a good run as of late and ENR has been a very good longer term stock for me.  I think it is somewhat overlooked but check out their charts.  I also own some Playboy (hasn't made a penny but its fun to own.)  Another stock to watch you might be interested in is NZ (for Netezza).  Its new but the company seems to be doing well.

bahhh what do you know, haha. Ohh and I got a new 750.

[tstruyk]

Hey I watched some of the democratic debate the other night.  EVERY candidate has a plan to save Social Security... have a little faith! ;)

whats your (our) accountant think?  LOL

[r1owner]

OMG, don't even go there!  I'm just glad I didn't ask them if I could write off any racing expenses!

[tstruyk]

just waiting around for my call that we're gettin the big "A"... its kinda like your motor... tic toc tic toc 

[Super Dave]

just waiting around for my call that we're gettin the big "A"...

?

[tstruyk]

I'm sure thats what it would feel like...

allegedly my accountant (one of the largest firms in the STL area) is under fed investigation... 

anyone need any blood or plasma?  I may be looking for 3rd and 4th sources of income. 

[03 6R]

man only if i invested in taht right when they launched :-X

[Super Dave]

Welcome to PM's!  LOL!

Well, yeah, wouldn't we all like to be in that one.

I rode a couple shares up, and I decided that when it was way over $720 that I should set up a stop so that I'd be in the money.  Went up to $750, but I think I sold at $724.  I bought two shares again recently at $645 or so, and I'm hoping that it will go up again.  We'll see.

[Court Jester]

i do more buy and hold forever stuff. my hope is that yahoo is strong enough to hold their own and grow in the long run. that's the only tech stock i have though. cokeacola, toyota, and walmart are great for the "buy what you can when it's low and hold till you retire" idea because all are strong companies that could make it through the toughest of hard times and rebuild. 

[Super Dave]

I've done that too. 

I guess I got tired of holding a stock for five years to watch it go from $100 a share to $200, back to $115, then up to $150.  At the end of five years, it's $120.  Yeah, that's a 20% return in five years, but that's not much better than a CD. 

I wanna learn how to make some money work for me.

[Court Jester]

the price of metals and oil never lose in the long run

[Toves33]

Gold is back on the rise too.

[Court Jester]

I wanna learn how to make some money work for me.

selling crack and/or pimping???