This goes back, though, to the question I asked earlier: Investors have to know what they're paying for. If you want the strong growth that Google has consistently provided, you're going to have to sacrifice some nights of restful sleep.

I have always liked Google's stock and I don't believe that this story has changed. I've always said that the best way to evaluate Google's stock price is on a five-year basis. And projecting five years out, I still see mid-to-high double-digit revenue growth, which means this is far from a mature company.

With the stock having reached $928 recently, predicting $1,000 a share wouldn't be sticking my neck out too far. But with rising free-cash flow and management's ability to realize value from the company's recent investments, I can see the stock reaching $1,200 by this time next year, if not sooner.

At the time of publication, the author was long AAPL.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.
Richard Saintvilus is a co-founder of StockSaints.com where he serves as CEO and editor-in-chief. After 20 years in the IT industry, including 5 years as a high school computer teacher, Saintvilus decided his second act would be as a stock analyst - bringing logic from an investor's point of view. His goal is to remove the complicated aspect of investing and present it to readers in a way that makes sense.

His background in engineering has provided him with strong analytical skills. That, along with 15 years of trading and investing, has given him the tools needed to assess equities and appraise value. Richard is a Warren Buffett disciple who bases investment decisions on the quality of a company's management, growth aspects, return on equity, and price-to-earnings ratio.

His work has been featured on CNBC, Yahoo! Finance, MSN Money, Forbes, Motley Fool and numerous other outlets.

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