great news, cloud!!! during the next 12 months this is going to blow wide open. remember what CH told us, "We are well positioned." The end of the story hasn't been written. Dr. Mike
Aug.13, 2008 in Jim Cramer Mad Money CEO Interviews
Jim Cramer told market players that it’s time to buy Google (GOOG). He told viewers that the stock is a steal at current prices. Cramer welcomed Google Chairman and CEO Eric Schmidt to the show to discuss his company’s prospects. Schmidt mentioned that Google has no plans to split the stock and he said the company will make no changes to its policy of not providing earnings guidance to Wall Street. “We don’t want it to get in the way of running the business,” Schmidt said. “If we started giving quarterly guidance, all of a sudden the whole company would start focusing on the quarter rather than trying to change the world.” Schmidt went on to say that international sales could pass up domestic sales and account for 65% of the firm’s business. He also predicted that mobile ad revenues will eventually pass up the company’s desktop business. He explained that Google can target ads better on mobile devices. Finally, Schmidt said that Google isn’t sure yet how to best monetize YouTube. However, he said he isn’t concerned because the site gets soo much traffic and the users end up using Google’s search site and clicking on paid advertisements. “So don’t be too worried about all that traffic going to YouTube,” Schmidt said. “I’d be worried if people weren’t using to YouTube. Since it’s an enormous success globally, we know we will eventually benefit from it.” Schmidt also said the company has no plans to place advertisements on its homepage, even though they could probably make billions from it.
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