Google’s doing a great job and putting out some good stuff such as customized search. Earnings for Q3 were better than expected, but that should already be reflected in the stock price.

Since Google already has a huge portion of all internet searches, and given that they just spent 1.6 billion for YouTube with marginal current revenues, and given that we are in a very uncertain time where online revenues could go down or other companies could spring onto the search scene with something great almost overnight and threaten their dominance ….
What exactly is driving this stock price through the roof? It kind of smells like 1999 to me, but what do I know?