They raised the price target for Google’s stock to $300. Unbelievable! I use Google, and have made money from Google through their Adsense, but a P/E ratio of 112 is insane! That means that at current earnings, it would take 112 years to earn back your investment. I was listening to a book on CD titled Stocks for the Long Run : The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies by Jeremy J. Siegel, and he talked about how the biggest stocks back in the 1970s were the nifty fifty. Some of the stocks had outragous P/E ratios including one approaching 100. Looking back, he calculated that some of the high P/Es were actually justified, but NONE merited a P/E of over 80. Polaroid had the highest P/E with a ratio of 91, and then as far as I can tell, Polaroid’s stock seemed to sink into non-existence. Google face competition from Microsoft, and Yahoo, and whoever else comes along. Where was Google 5 years ago? I was using Alta Vista for searches then. Where is Alta Vista now? Where will Google be in 112 years?