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Analysts see 'new era' for Google shareholders

An employee walks through the lobby of Google's Washington, D.C., headquarters.
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An employee walks through the lobby of Google's Washington, D.C., headquarters.

After going nowhere for all of 2014 and the first half of 2015, analysts became accustomed to not expect much from Google's stock and the company's free-spending ways.

That changed this month when the search giant's second-quarter earnings blew away Wall Street estimates and the stock surged 16 percent in a single day to a record high.

Analysts were so impressed by the earnings report, they not only raised their forecasts, but began throwing around big talk like "dawn of a new era" for the company.

Here's why...

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