The iPhone 5 launch on Wednesday, Sept. 12, is sure to be the most important event for tech investors this year. The Motley Fool will be hosting a live chat where our top tech analysts will answer your questions and break down what the announcement means for Apple and tech investors everywhere. Be sure to swing by Fool.com at 12:45 p.m. ET this Wednesday for all your coverage of Apple's next big announcement.

Google (Nasdaq: GOOG) shares hit $700 at the end of 2007, just months after passing the $600 high-water mark. Since then, the stock has taken a five-year round trip to $292 -- and back. Big G reached that $700 benchmark again on Friday. The stock can get back to setting all-time highs now, after a five-year hiatus.

So, does this set Google up to break new highs on a regular basis, like a delayed version of Apple's (Nasdaq: AAPL) record-breaking long-term chart? Mr. Market gets the final say, but I think Google makes a solid case for further gains. Check out these fundamental trends:

GOOG Chart

GOOG data by YCharts

Over the past five years, the stock has moved sideways (by Sheikra-style roller coaster, but you know what I mean). At the same time, the P/E ratio dropped by half and Google now produces more than 5 times the free cash it did in 2007.

In other words, the financial fundamentals are in place to catapult Google higher. On top of that, Google never stopped thinking big. Microsoft (Nasdaq: MSFT) still can't touch Google's dominant share of the online search and advertising markets, no matter how hard Redmond put its back into the effort. Android smartphones crush all comers around the globe, and Google just started monetizing that success in a direct way with the Motorola Mobility buyout. Google Fiber is creating an all-around Internet and TV service provider in Kansas City (both Missouri and Kansas) and could very well roll out nationwide over the next few years.

And there's more. Far from a one-trick pony, this company has hooves in more pies than the average investor could imagine.

Apple and Google walked hand in hand down Wall Street until 2010, when Cupertino took off to triple in value while Google hardly moved at all:

GOOG Market Cap Chart

GOOG Market Cap data by YCharts

Is it Big G's turn to shoot up like a moonbound rocket? Share your thoughts in the comments below. Me, I have a bullish CAPScall and some real-world shares riding on seeing the answer become a solid "Yes, sir!"

To help investors understand the opportunities ahead and the history behind Apple, we've created a brand-new report on that august stock. It not only details reasons to buy and sell the company, but it also comes with continuing guidance and updates in the influential months ahead. Not only that, but you get plenty of extras, like our new report on which iPhone suppliers are set to gain the most from the iPhone 5 launch. All of this is invaluable information, not only to Apple investors but also to those interested in rivals like Google. Get started now.