Is Google Leaving Money On The Table in an Ad-Only Model?

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GOOGLE-C (NASDAQ: GOOG) Delayed: 356.62 -3.51 (0.97%)
Previous Close $360.13    52 Week High $816.68 
Open $358.79    52 Week Low $663.06 
Day High $361.96    P/E N/A 
Day Low $355.83    EPS $0.00 
Volume 16,502,025