Friday, October 22, 2004

The New York Times > Technology > At Google, Earnings Soar, and Share Price Follows

The New York Times > Technology > At Google, Earnings Soar, and Share Price Follows: "Several financial analysts said on Thursday that they were still trying to understand what the company's business would be over a longer period because the company has kept much of its strategy closely held, even after going public.
'We can't adequately answer the question of whether the company's stock is overvalued until we can tell what the company is,' said David M. Garrity, a financial analyst with Caris & Company, an investment firm in New York.
However, he added that the broader underlying outline is that the company intends to use software technology made available freely to its customers to drive traffic and that could be a model that would be difficult for rivals like Microsoft to compete against.
'Google is making a mockery of existing technology solutions, to wit, Microsoft,' he said."
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