CALDEIRÃO DE BOLSA

Don Pereira, qual empresa tem um ritmo de crescimento dos lucros mais elevado? Pondo as coisas nos extremos, não faria sentido uma acção como a Coca-cola (cujo crescimento dos lucros é claramente mais limitado) estar a negociar com um PER semelhante ao da Google.

Em relação ao youtube, em relação ao valor da Google e ao free cash flow que vai tendo pode considerar-se quase uma aquisição marginal.

Um abraço,
Ulisses

Tenho estado a acompanhar este stock e continuo a não perceber a razao para continuar sempre a subir.

Se o Cramer afirma que o PE é tão importante, porque é que a Microsoft them um PE de 21 e a Google de 37 ? Acho que ate a Yahoo tem um PE melhor do que a Google.... isto faz me pensar.... Se a Google nao conseguir atrair as receitas de "advertizing" que tanto quer com a youtube, duvido que este valor possa ser mantido.

Por enquanto, como tenho pouco dinheiro... fico de fora...

Aproveito e transcrevo também a opinião do especialista em "tech stocks" do realmoney que, apesar de andar cauteloso par ao curto prazo, continua a acreditar que 2007 vai ser mais um excelente ano para essas acções.

"Still Sticking With Google"

By Cody Willard
RealMoney.com Contributor
11/21/2006 12:42 PM EST

"Google (GOOG - commentary - Cramer's Take - Rating) broke $500. That's the story of the day, and rightly so. Since Google came public, its move has been something to behold.

Remember when the stock made its debut in the high double-digits? Everyone thought that was a terrible idea because of some twisted logic about how low-priced stocks are better for individual investors.

Remember when that hedge fund manager in Barron's trashed Google when it was at $175 or so and said it was fair value at $25?

Remember when everyone was upset that Google did a $4 billion secondary?

Remember when Google reported a soft quarter, and the world panicked and said the company's growth trajectory was over? (Doesn't that happen just about every other quarter?)

Remember when Google crossed $400 the first time and everyone wanted it to split because of some twisted logic about how that would help liquidity in this very liquid stock?

Remember when Google bought YouTube for $1.7 billion?

I expect Google to have a lot more upside ahead of it over the next few years. I also expect that I'll be typing a column someday that says, "Remember when Google first crossed $500?"

I'm still sticking with Google. "

(in www.realmoney.com)

É interessante saber a opinião do Cramer que há tantos meses vem proclamando os 500 dólares para a Google.

"Where Google's Going"

By Jim Cramer
RealMoney.com Columnist
11/21/2006 12:54 PM EST


"When will people understand that it is, in the end, the P/E -- the price of the stock divided by the earnings -- that controls?

I have been inundated with questions about where Google (GOOG - commentary - Cramer's Take - Rating) can go, as if it's a plane that is breaking the sound barrier and people want to know if it can possibly get to Mach 5. You have to figure out what Google is worth based on what it will earn and what people will pay for it.

I don't understand why Google doesn't command the highest multiple in the market, something like 55 times, but the absurdity of saying $825 to those who don't understand this kind of analysis causes immense problems.

People think you get it out of thin air.

Google is going higher. It is going higher now.

Because getting to $600 -- where it is valued at only 40 times earnings -- seems, alas, not that hard.

When it gets there, I will leave it to those who like to clock the velocity of planes. "

(in www.realmoney.com)