Google Chalks Up Strongest Quarterly Rally in 7 Years
Apple had some brilliant days on the stock market in recent months, but Google has been gaining ground, too; in fact, according to Fox Business News, the search giant is headed for its biggest quarterly rally in 7 years. This quarter, the company’s stock price is up 30%, which torched analyst expectations.
Over the summer, there was a bit of brow-furrowing over Google’s heavy investment in Motorola as well as the quarters-long decline in its cost-per-click earnings, but cost-per-clicks are back up (just 1%, but still up) and Google saved itself quite a bit of cash by axing 4,000 jobs at Motorola, or about 20% of that workforce.
This latest rally brings Google’s share price to $754.50 for a market value of $247 billion, which means that it’s the fourth-most valuable U.S. company, behind only Apple, Exxon Mobile, and Microsoft--and Microsoft, with a valuation of $249 billion, is in danger of ceding that third-place spot to Google.
Over the summer, there was a bit of brow-furrowing over Google’s heavy investment in Motorola as well as the quarters-long decline in its cost-per-click earnings, but cost-per-clicks are back up (just 1%, but still up) and Google saved itself quite a bit of cash by axing 4,000 jobs at Motorola, or about 20% of that workforce.
This latest rally brings Google’s share price to $754.50 for a market value of $247 billion, which means that it’s the fourth-most valuable U.S. company, behind only Apple, Exxon Mobile, and Microsoft--and Microsoft, with a valuation of $249 billion, is in danger of ceding that third-place spot to Google.
