Google shares have topped the $500 mark despite analysts scepticism, reports The New York Times.

“I thought the stock was a little expensive,” said Mark Mahaney, an analyst for American Technology Research and now for Citigroup said. “It turns out that was a terrible call.”

With forecasts of a $600 share price within a year, the Google fairy tale continues.

So by the beginning of last year, Mr. Mahaney jumped on the Google bandwagon. And so have most of Wall Street’s analysts, along with the portfolio managers who look after big pension and mutual funds.

Today, Google’s shares gained $14.60, or 3 percent to close at $509.65, passing the $500 mark for the first time. (Mr. Mahaney, whose sell recommendation came at $137, is now among those predicting that it will rise to $600 within a year.)

It has also been reported that Google is now worth half of Microsoft’s share cap, an astonishing rate of growth for an eight-year-old company.