Google is First Tech Firm to Surpass $800 Share Price
Way back in late 2007, we declared "the sky's the limit for Google stock," which at the time was trading at just over $600 per share. Nearly six years later, that might still be true. The sultan of search set a record earlier this week, becoming the first tech firm to surpass the $800 per share mark. That in itself isn't terribly meaningful in the grand scheme of things, though it does underscore that Google is still very much relevant and that its business strategies are working.
Google's an advertising behemoth, and also a rich source of personal information, which it collects through a variety of popular services. Now a thriving business, Google's market capitalization is worth $262.82 billion based on today's share price of just over $796. How high can Google truly go? Will it break the $1,000 barrier?
It's hard to say, but unlike Apple, which saw its share price plummet to below $450 after hitting an all-time high of $705.07, Google isn't losing market share in key areas. Android is the most popular mobile operating system on the planet, and barring anything unexpected, it will remain that way for the foreseeable future. On top of that, Google's own Nexus hardware garners favorable reviews, despite supply issues.
Some analysts believe that Google's share price will balloon to $1,000 over the next 12 months as the industry continues to trend towards mobile, and also because Google's in position to raise the price for clicks on its ads. If so, then perhaps Eric Schimidt should have waited a little while longer before selling off 3.2 million shares.
Google's an advertising behemoth, and also a rich source of personal information, which it collects through a variety of popular services. Now a thriving business, Google's market capitalization is worth $262.82 billion based on today's share price of just over $796. How high can Google truly go? Will it break the $1,000 barrier?
It's hard to say, but unlike Apple, which saw its share price plummet to below $450 after hitting an all-time high of $705.07, Google isn't losing market share in key areas. Android is the most popular mobile operating system on the planet, and barring anything unexpected, it will remain that way for the foreseeable future. On top of that, Google's own Nexus hardware garners favorable reviews, despite supply issues.
Some analysts believe that Google's share price will balloon to $1,000 over the next 12 months as the industry continues to trend towards mobile, and also because Google's in position to raise the price for clicks on its ads. If so, then perhaps Eric Schimidt should have waited a little while longer before selling off 3.2 million shares.
