I think we will see this below $300 in the near term, and I think the prudent investor will buy it up anytime he sees it below $250. Yes, it has been massively over-priced and many of us knew that. Management with Google seems less concerned about share price, and more concerned with innovation.
Personally, I like management that is concerned about making its product offerings better and better. I think that is what Google is all about. In my firm EVERYONE is converting by choice to using GMAIL. We all even use the accounts function to do our business email from it. Yes, Google is like an internet religion. But I personally think they still have a bright future. For those who say “it’s just a glorified search engine” … all I can say is stand back and watch.
Valuation is high right now. Perhaps we will not see prices this high for quite some time. I really think there are some great buying opportunities coming for GOOG, and the smart investor will keep a little money aside for those opportunities.