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March 6, 2008
Google: Touching New Lows
In case no-one's paying attention, Google hit new a 52-week low today. It traded down to $432.7, or off 3.3%, which makes for a whopping 41% decline from the November 6th stock peak. Stunning stuff.
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Sigh, I know, I know. Guilty as charged.
Let's just say that while I still think GOOG gets there -- and trading at 17x forward earnings while gaining share in a market growing 25%/yr strikes me as over-discounted -- it's awfully unlikely it will happen by this summer :-)
P.
GOOG will be fair value at $220. Hope it reaches there soon (next 6 months).
Care to double down on your beloved GOOG $1,000 price target?