Cramer calls for $1,000 on Google, well $600.00 anyway

Jim Cramer says Google Inc. (NASDAQ: GOOG) has stayed put for long enough and is ready to run.

He thinks Google is headed to $600 on a conservative basis, but he did note several valuation comparisons that could take it to $700, $900, and even more than $1,000, because Google is now the cheapest of all internet stocks and the metrics make this the case.

Amazon.com (NASDAQ: AMZN) has soared almost 80% this year with a much richer valuation than Google, a situation the market is bound to correct, according to the Mad Money host.

I would normally think that Jimbo's gone over the edge, because Google does have a $147 billion market cap and Amazon has a $28 billion market cap. I am not sure he hasn't gone nuts, but that's another discussion. These two might not be as comparable (or contrasting) as he thinks because of the huge difference in their sizes.

Google closed up marginally at $474.33, but traded up close to 1% at $477.75 in after-hours trading.

Jon Ogg can be reached at jonogg@247wallst.com; he does not own securities in the companies he covers.