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Google Bulls Won't Let It Go Down

By Jim Cramer

 About this article:
 Nothing smacks of stupidity more than buying Google up 22%, except buying it up 30%! Google's move today is a reminder of how few companies are growing near or above the magical 30% level. When you see an acceleration in growth, you really get the juices going for growth portfolio managers and when you have a 22% grower going to 27% growth, with the possibility of 30% growth next year, you can argue that you could easily pay 1.5 times next year's earnings -- $770 -- and still be reasonable. That's right. These buyers are betting that you could get this stock up to $770 as the multiple expands and the earnings increase as the ad business roars back to life. Google was growth-interrupted. It kept growing in pageviews the whole time, got stronger, got leaner, took share from Yahoo! -- did anyone even whisper Bing...

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