Will Google's Stock Pass $500?

It got to quittin' time Wednesday and I buzzed on home daydreaming about the nearly suicidal feast that was awaiting me the next day-I could leave Google in Mountain View for Thanksgiving, I thought. But during the commute, listening to the only guy that makes Wall Street interesting for me on the radio...

conservative estimate only because Cramer didn't "want to sound too absurd" with his enthusiasm. "You still have lots of stocks that are more expensive than Google with growth stats that aren't as good," he said. He was using a time-tested rule of thumb, projecting value with a multiple of 50, or twice the growth rate as the upper limit for calculating the price-to-earnings ratio. But at the current growth rate of 33%, "I should be willing to pay 66 times earnings for Google." His reservations about pricing Google that high are matched by many analysts, who at most, will project the stock to reach $475. But the dreamy side of Cramer is right in line with another hip-shooter, UBS analyst Benjamin Schacter, the only

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