Google after the bell for 6-22-06: Google overvalued?

Google shares closed down a bit today at $399.95 per share, a drop of $2.28 or 0.54%, with a trade volume of slightly over 5.8 million shares. I mused on Google's take on the mobile web today -- and I think they "get it" more than other companies -- and Sheldon fielded quite a few comments on why Google is positioned to go down the tubes bit. We always invite and appreciate incisive and informed comments, but sometimes we get flames and bashes without anything but emotional bias -- but we love you, we really do!

On that note from Sheldon, I've recently pondered, in many ways, how Google is going to make money from all these services and products it has recently released. Just like this one -- a wireless internet network already installed in its hometown of Mountain View, California.

Google says (at least, publicly) that it does not expect advertising to support this network and it does not know how it is going to monetize this new WiFi wireless internet network. However, it does want to give this service away so that customers can potentially do more "Googling" anywhere they are. Cough -- business model -- cough. Maybe money grows on trees in Mountain View?