Friday, November 18, 2005

WSJ.com - Google at $400: Is It on Merit Or Just a Mania?

WSJ.com - Google at $400: Is It on Merit Or Just a Mania?: "Google the word 'mania,' and one might almost expect to get a link to, well, Google Inc.
Shares of the Mountain View, Calif., online search company marched past $400 a share yesterday, finishing at $403.45, up $5.30, or 1.3%, on the Nasdaq Stock Market.
The stock was born, as an initial public offering, in August 2004 at $85 a share. But with the gains since then, the seven-year-old company now has a market value of more than $112 billion, making it larger than Coca-Cola Co., Cisco Systems Inc. and Time Warner Inc. There are many in the marketplace who think the company's shares have room to grow. Several analysts increased their price targets to $450 after Google reported stellar third-quarter results last month."

Is there no long-term memory in investing?...
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