Wall Street agog over Google

calidan · Nov 29, 2005, 02:21 AM

When search giant Google asked for $85 per share in its initial public offering on Aug. 19, 2004, more than a few people thought its wunderkind founders had perhaps drank a bit too much of their own Kool-Aid.

Fifteen months later, it looks like, if anything, they underestimated investors' enthusiasm for their fast-growing company.

Google's stock price continued its upward march Monday, finishing the day at $423.48 per share, giving it a $125 billion market capitalization. That was just a smidge below its all-time high. Still, Monday's closing makes Google more valuable than eBay and Amazon.com combined, dwarfs Time Warner's $84.35 billion market cap and even tops networking king Cisco Systems, which has a $107.4 billion cap.

The question now, of course, is just how high can Google go?

"Take an '8' and turn it sideways. You get the sign of infinity. That's what a lot of people think (Google) is worth these days," said Scott Devitt, an analyst at Legg Mason Wood Walker.

Will it take Google long to leapfrog Intel and its $161.9 billion cap? And is it so far-fetched to imagine Google's cap one day surpassing even Microsoft and its $295.4 billion market cap, to become the most valuable company in tech?

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Read More / Source: News.com

Nov 29, 2005, 02:21 AM	#1
calidan Frozen in Carbonite Join Date: Mar 2003 Location: Kansas City, MO Posts: 1,409 Rep Power: 43 System Specs	Wall Street agog over Google When search giant Google asked for $85 per share in its initial public offering on Aug. 19, 2004, more than a few people thought its wunderkind founders had perhaps drank a bit too much of their own Kool-Aid. Fifteen months later, it looks like, if anything, they underestimated investors' enthusiasm for their fast-growing company. Google's stock price continued its upward march Monday, finishing the day at $423.48 per share, giving it a $125 billion market capitalization. That was just a smidge below its all-time high. Still, Monday's closing makes Google more valuable than eBay and Amazon.com combined, dwarfs Time Warner's $84.35 billion market cap and even tops networking king Cisco Systems, which has a $107.4 billion cap. The question now, of course, is just how high can Google go? "Take an '8' and turn it sideways. You get the sign of infinity. That's what a lot of people think (Google) is worth these days," said Scott Devitt, an analyst at Legg Mason Wood Walker. Will it take Google long to leapfrog Intel and its $161.9 billion cap? And is it so far-fetched to imagine Google's cap one day surpassing even Microsoft and its $295.4 billion market cap, to become the most valuable company in tech? ____________ Read More / Source: News.com __________________ Steam Community :: ID :: calidan "Don't try to be like Jackie. There is only one Jackie.... Study computers instead." - Jackie Chan