Google stock soaring: Bargain or bubble(?)

From the AP in our Sunday's edition paper)
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Is Google Inc.’s incandescent stock a golden opportunity or fool’s
gold?
Investors have been arguing that question since Google's initial public
offering in August 04. It is expected to earn about $1.6 billion on
revenue of $6 billion this year, quadrupling its profit. This is where
the concern of it being a bubble company, like so many tech compainies
were, in the 90's, when nasdaq sky rocketed to over 5,000. Where as
many investors went broke. Now, the nasdaq is struggling to hit 2,000.
But, the stock has really soared. In the past 11 months,
the famous online search engine makers shares zoomed past $200, then
$300, and, just recently, it an overwhelming $400, making the company a
gold standard in internet advertising, just 7 years after the
co-founders Larry Page and Sergey Brin. thought it up, and started the
googleing company, playing in their garage in silicon valley, like
another fellow and his friend about 15 years ago. Can't think of the
name of the company, right off,Grin?

When stock is $400 a share, who can invest? One broker said
the current price is justified, but I can't tell my clients to buy,
explaining why he downgraded Google's shares to a ''hold'' earlier this
week.
Google's rapid run-up is making it more difficult to figure
out how outside investors can make money on the stock, said one analyst.
Google is locked in a series of legal battles over the search
engine's alleged abuse of trademark and copyright laws while MS, armed
with $40 billion in cash, continues to invest heavily in a strategy
aimed at toppling Google.

Other analysts are worried about Google's ability to manage a
rapid expansion that might include a substantial investment in AOL.
Another analyst says the unwavering enthusuiasm for Googles stock
is being fueled by the ''madness of crowds''. He says the only way you
should touch the Googleness stock now, is IF, you think the crowd is
still crazy''!!
=============================== (personal footNote: I might could buy 5
shares at $400 a share, chuckle. I don't like crazy crowds, so that is
my excuse for not investing,chuckle) (BJAY)!