To skeptics, it's as though search giant Google's investors are living in an alternative reality where the tech boom never ended.

With a $77.7 billion market capitalization, Google's worth on Wall Street is just about equal with media giant Time Warner; it dwarfs Viacom's $54.6 billion market cap and tops Disney's by nearly 45 percent. Google's share price closed down 4.6 percentage points to $279.56 on Wednesday, just a day after it flirted with the $300 barrier.

All this for a company that didn't even exist seven years ago, routinely avoids providing earnings forecasts, won't conduct a stock split to make its share price more palatable and has a price-to-earnings ratio of 112.27, about twice that of its closest competitor, Yahoo.

Read more: CNET News.com