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Google's Still Buyable

What the heck is Google (GOOG - Get Report) doing selling at 1 times its growth rate?

What is a company that is successfully integrating Doubleclick to rout its ad enemies, a company that is now going up against a totally challenged Yahoo! (YHOO - Get Report), a company that has a division that is growing 7% organically per week (YouTube) and a company that has the best balance sheet in the world doing selling at 1 times growth?

I swear, if we just used the old rule of 10, where you divide the price of some high-dollar shares by 10 to make the valuation process less daunting, no one would think twice if this $53 stock went to $60.

I named the four horsemen of tech a month ago, RAGA -- Research In Motion (RIMM), Amazon (AMZN), Google and Apple (AAPL - Get Report) -- and each has astounding growth vs. its multiple, with the possible exception of Amazon, which is also a play on a ridiculously large short position.

I like all of these, although obviously Apple will be tricky to trade -- up, then down, then up -- after the iPhone's debut. But it is absurd that the cheapest of these stocks is the best and fastest-growing: Google!

It is breaking free of the earth's atmosphere right now, and it is becoming a great mark-up candidate for end of the quarter momentum funds.

It should be purchased now.

Random musings: Subprime alert -- the people determined to freak you out will work at it all week. Get immunized. Read the series !
At the time of publication, Cramer was long Yahoo!

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS . Watch Cramer on "Mad Money" weeknights on CNBC. Click here to order Cramer's latest book, "Mad Money: Watch TV, Get Rich," click here to order his book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here .

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