Google’s stock has been on a rise for a couple months now, and are currently still soaring. Google’s stock went from $559 a share in June, to an all time high of $764.89 on September 25th. Shares closed today at $753.46.
Image courtesy of Flickr, TheAlieness GiselaGiardino²³
Thanks to data provided by the Bespoke Investment Group, Google has surpassed Chevron and IBM in becoming the 5th most valuable company in the United States. In this time period, Google has increased their market cap by over 60 billion dollars, and though they’re at approximately 245 billion dollars. Though they are still far off from the country’s leader in market cap, Apple, which stands at over $631 billion, there is little sign of slowing down for the search engine company.
There are many speculations as to why the stock is going up, while others like Facebook, are going through a detrimental fall. Maybe it’s the fact that Google’s mobile operating system, android, is finally catching up to Apple’s iOs, and their recent release of devices like the Google Nexus 7 has been highly welcomed. Maybe it’s the the fact that people are realizing Facebook is no real threat to Google’s core business. It’s most likely a combination of these things that has Google increasing Stock prices by 30 percent over these 3 months. Whatever it is, those bold predictions that Google’s stock could one day be at $2,000 may not seem like such a stretch after all.
(sources: Business Insider, Mashable)