Google - Looking Back (2004)

I happened to find a December issue of Fortune, that I had preserved, which had Brin and Page on the cover. The picture I have of the cover is small but the main headline on it is 'Google - Is the company worth $165 a share?"

Fortune_20041213

One para from that article, written by Fred Vogelstein:

"Less arrogant, plenty innovative--but is that enough to make Google worth $165 a share? Wall Street analysts certainly think so; 12 of the 25 who cover it rate the company a buy at these levels, and there are no sells (and yes, we've seen this play before too). Believers like Morgan Stanley's Meeker assume the company can continue to grow revenue 25% per year on average for the next decade. Goldman Sach's Anthony Noto recently assumed that earnings could also rise by a 25% annual rate through at least 2009, which then justified his new "target price" of $215."

I enjoyed the little irony in it since Google recently announced its quarterly numbers and its stock hovering at about $500

Imagine: $650 in 2008