GOOG is just a search engine, folks. Remember the hype surrounding YHOO back in the late 90s? Guess what - the same exact thing will happen to GOOG eventually, whether you like it or not.
Lets run down the facts:
GOOG has non-existant barriers to entry
Trading at a PE of 46 - you are buying hype
Trading at not 10, not 20, but 30 times EBITDA
Technicals are abysmal
Gigantic gap at 300 - 325 will get filled
Insiders are dumping at a frantic pace
VCs have bailed (look at John Doerr's insider sales)
Again, GOOG IS JUST A SEARCH ENGINE! NO TANGIBLES! TERRIBLE TECHNICALS! WHY WOULD YOU BUY SOMEONE ELSE'S GARBAGE!!
I give GOOG a price target of $130 - 140. I would be willing to buy at a $40 bil market cap.