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1 point posted on 07/15/08

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Michael Parness:

+0.00%

GOOG - $200 within 12 to 18 months.

GOOG reports earnings this week and this will be THE key report for the Nasdaq in my opinion. Expectations are running very high for GOOG and if they blow past those then we should get a relief rally for a short period. If they don't, I think the term "look out below" applies to the Nasdaq and the Russell. Longer term I think TECH on the short side is where there's a lot of money still to be made. These stocks are vastly overvalued and the notion that they are immune to a slowing economy is not only foolish, it's without any historical merit that I can put my finger on. I still say longer term GOOG is $200 or below. Yes, I dare say GOOG is below $200 within 12 to 18 months.

Michael "Waxie" Parness

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GOOG

Google Inc

Comments (4)

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Alpha Zilla

44%

1 point commented 498 days ago reply

200 is Rather bold. Of course I have nothing refute your assertion. However, I would say 300-350 would be more of a doomsday scenario (assuming they hold steady on market share of the search engine business). Google is not recession proof, but people will still surf the internet because its cheaper than getting into a car and companies (however bad economic times are) will still need to lure those people to their website to buy stuff because its cheaper than keeping brick and mortar stores open. For that reason, I think conventional advertising would take a greater hit before online advertising would during a recession. Advertising is cheaper online and more direct (catered to individuals) online....Hopefully my blind nut can find a squirrel!

allstarinvestor

85%

1 point commented 495 days ago reply

tech will see a pullback but I think 200 is a little bit ridiculous

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1 point commented 494 days ago reply

This Parness guy IQ seems in question - he has no idea what he is talking about. Just put his last several posts together, you will find out he is talking garbage. Even with half year result, a $100 price means a PE a little over 10 for GOOG.

aek82

66%

1 point commented 309 days ago reply

Earnings reports for 2008 Q4 is coming out tomorrow. Let's see how he does. I have my money on the short side for GOOG.

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