Not sure they could be the next MSFT... their product is too easy to copy (I´m guessing SEs will use a good part of their time with patent lawsuites in the future), and in the age of mass media hype, then the next big thing could beat google in months - not years (just a click or bookmark away)
Google got a brand, they are making news every 6 months or so, they got eyeballs, and they are making money... its a nice business, but thats it.... once the hype is over, then the market will adjust their price (but who knows - maybe the hype will continue for years