Google's Profit Surges On Growth in Advertising

After a hard-swallow and some profit taking on AAPL, I popped into GOOG again on Monday at $300 in the after-hours session. I felt like a genius when it jumped to $310 and if I could have I would have sold it yesterday and smiled. Unfortunately, I couldn’t do, because my sales from Monday had not yet settled. With my hands tied, I came back to earth about an hour ago.

WSJ.com: In a post-earnings conference call, George Reyes, Google’s chief financial officer, said that revenue seasonality might cause margin fluctuations in the third quarter. That, along with earnings that didn’t meet the most bullish expectations, sent shares down 7% in after-hours trading. Google shares had finished the normal trading day at $313.94, the highest-ever close, in anticipation of strong earnings… Google reported its results after regular trading hours. In 4 p.m. Nasdaq Stock Market composite trading, Google shares rose $1.94, or 0.6%, to $313.94, a record high. In late trading, the stock fell $22.94, or 7.3%, according to Inet ATS Inc.

I’ve been riding the GOOG train pretty hard this year, so I won’t bail at this point. Given its recent history, it will probably hit $320 before the end of next week.