Sure it is! James Stewart just posted a column on this subject here.
But you really want to know whether or not GOOG will get even more overpriced during the next 12 months. I think the answer is yes and I have explained my reasons here and here. Basically, GOOG is one of the few places day traders and hedge funds can “play” in an otherwise lackluster market. So I expect GOOG to inflate well past any reasonable notion of value.
The thing to remember is that booms, bubbles and busts always go further from fair value than a rational person expects them to. So if you are riding the GOOG tiger I suggest you hang on at least until it reaches my current 376 target or until it starts underperforming the Dow or S&P.
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