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Thursday, January 04, 2007

Google Named a Top Stock

Bloomberg.com: Technology: "Google Inc., operator of the most- used Internet search engine, was named a top stock pick for 2007 by Piper Jaffray & Co. analyst Safa Rashtchy, who cited the company's success at luring more users by adding new products.
An in-house survey of Internet users shows that Google's dozens of non-search products, from maps to book indexes and blogging tools, create ``a virtuous cycle of brand affinity'' that increases use of the site and its core search engine, Rashtchy wrote in a note to investors today.
As a result, more advertisers buy space on Google to pitch products and services to rising numbers of users, the Menlo Park, California-based analyst said. Rashtchy estimates $10.7 billion in 2007 sales, up 47 percent from his 2006 estimate. Google's third-quarter profit almost doubled on sales that jumped 70 percent from a year earlier. "
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