However, the stock seems a bit expensive now that the valuation has reached a P/E of 24, especially when compared to Apple's P/E P/E 10. Granted, they are in different businesses, but Apple's low valuation is equally hard to justify. As for this quarter and Google's overall improvements, CEO Larry Page offered this in a statement:
"We ended 2012 with a strong quarter. In today's multi-screen world we face tremendous opportunities as a technology company focused on user benefit. It's an incredibly exciting time to be at Google."I couldn't agree more. Google is no longer burdened by the Motorola acquisition after having auctioned off the home business to Arris for $2.35 billion. The portion of Motorola Google still owns has the potential to help Google drive Android further and strengthen its smartphone position. In the meantime, as the company continues to grow its global smartphone position Google should be able to command more from advertisers, a notion that makes the shares look cheap. With Google's strong cash flow rate and impressive revenue growth, it's not unreasonable to expect shares to reach the $900 level. At the time of publication the author had a position in AAPL. Follow @rsaintvilus This article was written by an independent contributor, separate from TheStreet's regular news coverage.