On Thursday Google reported earnings which blew away even some of the most optimistic analysts. In addition to incredibly high earnings, that for the most part were unexpected, they also announced that mobile ads were on pace to earn $1 billion in revenue for the company this year. The significance of this is that Google’s Android operating system is actually bringing in a ton of cash already, and its only in it’s infant stages. As Google’s stock price shot up to close the day Friday at $601.45, it’s leaving many investors wondering if the stock is still a good buy or not after an incredible 11% gain in the day after earnings.

Google has a ton going for them. Not only is their primary internet advertising revenue increasing, but the other areas the company has jumped into over the last few years seem to be finally paying off. Youtube is beginning to pay dividends, as the company figures out ways to monetize videos, and is sure to gain even more traction as Android phones, as well as Google TV become ever more popular. The Android operation system on smart phones and tablets has the potential to grow more than 1000% in the next 4 years or so. This could be a huge revenue growth catalyst over the next several years for Google. With $33 billion in cash the company has the money to continue their dominance both in mobile, as well as in traditional online ads for years to come. $600, to me seems to be a great entry price even after the large gains the stock had last week.