Google: $500/share

[Dr Mordrid]

In morning NASDAQ trading it hit $504.72 for a market capitalization of $154 billion.

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Google's relatively high p/e hasn't fazed several analysts who have already predicted the company's stock price will hit $600 within the next year.

Betting against Google has proven to be foolish so far. In the months leading to Google's IPO, widespread skepticism about the company's growth prospects prompted management to discount its desired price, enriching investors who were able to buy at $85. And just eight months ago, Google shares dropped as low as $331.55 amid fears that the company's earnings growth might be on the verge of a dramatic slowdown.

Anyone waiting for a stock split before investing in Google risks being left on the sidelines. Although most publicly held companies regularly split their stock to create a lower per-share price that appeals to more Main Street investors, the proudly unconventional Page and Brin have repeatedly indicated they have no intention of resorting to that maneuver.
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[Helevitia]

My buddy bought at $390. I told him he was crazy. He said it would go to $600. I told him he was insane. He stayed in. I told him just this morning to get out now while he is up 20%. He still thinks it is going up to $600. I guess no amount of talking is going to change his mind. I hope he's right.

[Sasq]

I really think google is its own micro-cosim dot com

[Dr Mordrid]

Got 100 @ $84 on the IPO. Worth 50 large now

Staying in....

[Gurm]

I am still amazed. Good for Google, says I.

So many of the "portal" companies just tanked. And I called it - as did the less starry-eyed "ooh lookit new technology" type analysts, just so you don't think I think I'm some amazing prognosticator.

People would argue with me. They'd say "Yahoo is really going places!" or "Lycos is the next AT&T!" and I'd point out that it's a company with NO sales, NO products, and NO way to actually make money other than selling ads that nobody takes the time to look at. And at the time that they went public, there weren't that many ads, either! None of this "here look at this ad while we're loading" that they implemented later.

Google is the only company to have really made good in a BIG way on the ad thing.

[Jessterw]

That about sums it up. Yahoo is about to undergo some major changes by the looks of it. Call it cutting out the fat if you will.

Going back to what Dan said, Google definitely exists in its own little sphere, it just happens to overlap the rest of the Internet and technology industry. Look at it this way, save for AdSense and Search, Google is not a market leader in any of the other areas it has entered (GMail sorta comes close and Earth is rather compelling). There's also no sign of their slowing down on entering or acquiring their way into new areas.

[KvHagedorn]

If I had bought at $84 I would be selling right now. Actually I would have sold when market capitalization hit $100 billion.

[borat]

Got 100 @ $84 on the IPO. Worth 50 large now

Staying in....

Very nice indeed, think I'd hold in at present too. Having said that you've already seen a sixfold increase, another is unlikely so it would probably be wise to have some sort of level planned to get out at.

[Jammrock]

In morning NASDAQ trading it hit $504.72 for a market capitalization of $154 billion.

Sounds like Google is pulling a Berkshire Hathaway (Warren Buffet's company). His A stock opened in the 70's and has never split. It is now valued at $107400 USD per share. He now has a B stock holding that is valued at $3500 per share.

[Dr Mordrid]

My feelings exactly.

@borat: I'm setting a new automatic "out" at $400 (was $300). Still a decent multiple of my "in" point. Of course if the price goes north of $600 that'll get revised significantly upwards.

[Jammrock]

Doc, do you use an online trading tool? If so, which one?

[Evildead666]

Woot!! nice one Dr....not many shares get that sort of increase
Probably worth spending some time each week, or day, just keeping an eye on it, just in case

You could probably set up a ticker thing with it on continuous loop of google share, on a mobile phone or palm/blackberry device...

[GT98]

Berkshire Hathaway

Wow for all that money, their website is straight out of a HTML 101 Class LOL

[Dr Mordrid]

Doc, do you use an online trading tool? If so, which one?

For active trading StreetSmart Pro/SmartEx (Schwab), though most of our money is in various funds, Roth IRA, a MET (Michigan Education Trust) account to pay for Erik's education needs if necessary etc. Very diversified.

MET is an account you can set up with the State where you start paying when the child is young, best when they are an infant. If they go to a Michigan university/college their tuition & mandatory expenses are paid. Benefits are state & federal tax free. Contributions are deductible.

At this point we also live relatively frugally; moved to a condo instead of taking care of a big house etc. Erik's the only one home so we don't need the space we had with the house.