Analysts see 'new era' for Google shareholders

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