Google tops $300

Google stock closed at $304 yesterday. I like Google as a company but have been a skeptic all along about its growth prospects. And I have been wrong so far. But $84 billion valuation - more than than American Express and almost double that of Yahoo Doesn't seem right. Something is wrong here. Yahoo currently has higher operating margin and earnings. Why is market valuing Google so high - I guess it is all about expectations after all. And again the analysts are bullish. They keep raising the price targets. And they are trying to outsmart each other in the raising the price target game. My skepticism is because of what happened in the late 90's. I see the same thing. They say history repeats itself. I have not seen one analyst who has shown any skepticism about Google's prospects. They all have lofty growth targets and I am sure a lot of them have spreadsheets to support the estimates. But I can't believe the exuberance. There should be somebody cautioning invetsors on the sustainability of current growth rate of Google. Who knows. Google could be the next Microsoft. One of these days I will start my research on Google.