On Feb 14, 2006, Barron's article bashed Google after google reported a disappointing earnings. Share price dropped 4.7%. This time they gave good comments on Google after the best quarter Google ever had, and I will not be surprised if share price goes up 5% which is about $24.
So, I am raising my target for Monday. Open at 480, high 504, close 499
GOOG akready left IBM, Intel, AT&T... in the dust. Next week, we may see additional three DOW members to become smaller than GOOG. In a year, all of the DOW30 will be less market valued than GOOG. GOOG will be the king ofthe Street!!!!!!!!!
Honestly, I think it depends on the direction of the market in general... if the market is up 1%, GOOG goes up 3%. If it is down 1%, GOOG perhaps holds at 475, maybe is down a little.
That said, the market is, in general, poised to go up. Retail investors are pouring money into this market right now. Mutual fund inflows are the highest they have been in years. People are talking about stocks at the water cooler again, rather than flipping properties.
That, and GOOG is twice as cheap p/e wise as it was a year ago. When I bought at 275 in Aug 05, I paid more (p/e wise) than when I bought at 455 right after earnings. To be honest, GOOG being relativley cheap compared to it's growth is why even Barrons has no choice but to get on board at this point.