Google Stock a ‘Buy’ at $800: Weiss

Wednesday, 27 Feb 2013 | 2:55 PM ET
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Bank of America has upgraded Google to a buy, with the FMHR traders; and what do shareholders hope to hear from Apple today in regards to its $137 billion cash pile, with Paul Meeks, Satuma Capital.

As Google stock broke above $800 per share Wednesday, Stephen Weiss of Short Hills Capital said that it was still worth buying.

"Here's why. Let's not forget the Android platform, that's Google," he said. "That's becoming just much more present everywhere in the world. Eventually they'll capitalize on that more. If I look at the economy, the economy is getting better. That's more ad revenue."

On "Fast Money," Weiss said that he had no position in Google, but added that he liked it.

"I've not seen any competition in the search space yet. Yahoo's not there yet. Maybe they get there," he said. "It's a big market for Google, globally. I would own the stock."

OptionMonster's Jon Najarian was a bit cooler on shares of Google.

"If I had to buy a stock, this would be one of them on the list," he said. "I don't think it is a screaming buy here at these levels. If they have some sort of a misstep, if we have something in Europe that causes the markets to invert a little like we saw on Monday, and you get a chance to pick it up $50 or $100 cheaper, which could happen like that, I think you pick it up."

Najarian stopped short of calling it a bargain.

"This is fair value, not undervalue," he said.

OptionMonster co-founder Pete Najarian suggested that Google could follow in Apple's footsteps.

"You know what will happen?" he said. "Here is what is going to happen: All the guys that jumped in now at $800 and anything above that level will scream for a dividend, like our next topic."

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