Around midday on Friday Google Inc.'s stock hit an all time high price of $560.55, which would give the 9-year-old company a market value near $175 billion.
For those of you hoping that the new advertisements on YouTube, Google's video service, would be going away, this should probably be proof that it isn't likely to happen any time soon. Those ads, along with other advertising technologies paired with Google's dominance in many aspects of daily web life are considered key factors for share prices having reached that new summit.
“Despite aggressive challenges by rivals like Yahoo Inc. and Microsoft Corp., Google has been able to widen its lead in search - the activity that triggers the text-based ad links that have become a huge moneymaker.
In August, Google handled 54 percent of all U.S. search requests, up 50 percent at the same time last year, according to the research firm Nielsen/NetRatings Inc. Yahoo lagged well behind at 20 percent followed by Microsoft at 13 percent.
The formidable lead enabled Google to earn $1.9 billion on $7.5 billion in revenue during the first half of the year. The company usually makes even more money during the second half because of the advertising blitz that accompanies the holiday shopping season.”
Do you think Google will top this price during the last quarter? Any bold predictions on the highest price of the stock before the end of the year?