Click to Skip Ad
Closing in...
  1. Galaxy Star Projector Amazon
    09:43 Deals

    This awesome $32 gadget went viral on TikTok and now Amazon shoppers are obsessed

  2. Best Exercise Machines
    13:17 Deals

    5 exercise machines on Amazon under $250 to build the home gym of your dreams

  3. Best Kitchen Gadgets
    08:33 Deals

    Amazon shoppers are obsessed with this $23 gadget that should be in every kitchen

  4. How To Save Money On Your Cable Bill
    15:37 Deals

    Your cable company is furious that we’re telling you about this $59 box on Amazon

  5. Amazon Gift Card
    07:58 Deals

    $25 in free Amazon credit beats any Prime Day deal – here’s how to get it

Analysts slap sky-high $1,000 price target on Google

February 21st, 2013 at 1:50 PM
Google $1000 Price Target

Remember the heady days of 2012, when analysts would issue price targets in above $1,111 on Apple (AAPL) shares and everybody took them seriously? Well those days may be gone for Apple, but Business Insider notes that Street analysts have picked a new golden goose to bless (or curse) with sky-high price targets: Google (GOOG). CLSA was the first to get in on the action by raising its target to $1,000 based on Google’s “ability to charge more for clicks on its ads,” Business Insider writes. And per ForbesBernstein Research analyst Carlos Kirjner has also raised his price target to $1,000 because he thinks that “mass adoption of smart phones, tablets and the mobile Web is a large value creation opportunity for Google.”

Of course, it’s easier to envision Google topping $1,000 a share at this point since it did close at over $800 for the first time ever this week, while Apple’s shares topped out at just over $700 this past fall. But given how rapidly Apple’s stock has fallen despite continued strong earnings, it might also be fair to question whether Google’s price target is based on realistic assumptions for its future earnings or on haphazard guesses that the company will continue to grow at its current pace forever without hitting any stumbling blocks.

As we’ve seen over the past year, the stock market can be pretty crazy when it comes to tech companies.

Popular News