What are you talking about? Seriously? Are you familiar with the stock market? Google could double and still be cheap. Stocks are forward looking, and Google has been undervalued and misunderstood by Wall Street from day one of the IPO.
If you think Google is overvalued, then you must really hate NFLX, AMZN, FB, and just about any other internet tech stock out there. If Google was priced like those stocks it would be at $10,000+/share.
So relative to the market Google trades in, it is severely undervalued.