Investors, including noted portfolio manager Stanley Druckenmiller, continually have talked up Google as the must-own name in technology due to its wide array of products in a variety of different areas, including search, mobile search, mobile devices, and new, innovative ventures, like Google Fiber and Project Loon.
Following third-quarter earnings, Google topped $1,000 a share, causing several analysts to boost price targets well north of $1,000, with some going as high as $1,250. Paid clicks -- which include clicks related to ads served on Google sites and the sites of network members, soared, rising approximately 26% year over year and 8% sequentially, leading Google to earn $10.74 a share on $11.93 billion in revenue.
Ever since those results, it's been one giant love-fest for Google, as Wall Street clamors to own growth at any price, and Google's got it.
This chart pretty much sums it up:
--Written by Chris Ciaccia in New York>Contact by Email. Follow @Chris_Ciaccia