Thursday, October 21, 2004
GOOG - Blistering Growth
wow! 805M in revenue for 3Q for GOOG. Google (GOOG) posted a sequential growth in revenue of 12+%. Amazing.
9 month revenue of 2.157B. We should probably assume 10% sequential growth for Q4. I know this is more than 6% we used the other day, but it's less than what GOOG put out in Q3. We are looking at Google's revenues for 2004 to be 3.137B!!!!
Ebay's 2004 revenue estimates are at 3.22B. Ebay has a market cap of 65.3B. Why shouldn't google have the same market cap as ebay?
At a 60B market cap, GOOG shares should be trading at 221$. Mark my words, 220 is coming sooner rather than later.
Comments:
Google is yet another example of a good company with overpriced stock. There are a lot of similarities between Google and the pre October 1929 market. The high price is really only supported by herd mentallity. A lot of people have bought the stock on margin, so any unstabillity in price will send the stock tumbling. I made a post about why Google is a bad investment a while back check it out. http://stockpickst.blogspot.com/2005/12/google-symbol-goog-started-seven-years.html
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