Fortunately, 'those investors' does not include this site's readers; amply warned that the shares were headed for $450 - $425. (The stock is down ~$10 to ~$471.50 as I write this post.)
And while the stock does its thing, the company does its specialty. Note, for example, this insight from Henry Blodget, "...the peak quarters for CAPEX appear to be behind us... should lead to a major acceleration in FCF growth for 2007." And then there is this speculation by Robert Cringely, "I think Google is building for a future they see but most of the rest of us don't... Google intends to take over most of the functions of existing fixed networks in our lives, notably telephone and cable television."
Only the fullness of time will prove correct Cringely's and Blodget's speculations; meanwhile, the company continues to accrete value -- despite the omni-present oscillations of its stock.
It is ever thus.
-- David M Gordon / The Deipnosophist
Labels: Market analyses