Google Stock Hits New High, Breaks Records Set In 2007
Just before the release of the iPhone 5, Apple's stock hit $700 for the very first time – a record for the company. Today, Google is setting records of its own, with its stock climbing to an all-time high. At the time of this writing, Google's stock is up $14.37, sitting at $748.36 per share and showing a 1.96% gain overall.
That's enough to beat its prior record, which was set back in 2007 when Google hit a stock price of $747.24. Google has experienced quite a fight since then too, as its stock fell below $300 during the financial crisis, only to climb more than $400 to get back to where it was before everything went down the proverbial drain. We're coming up on the closing bell for this Monday pretty fast, so it looks as if Google's stock will end the day above that $747.24 mark.
Of course, you never really know with the stock market, and Google's shares could very well fall below that 2007 record before the market closes for the day. Still, regardless of where the stock ends up when the closing bell hits, this is a big day for the search giant, and it shows that Google is definitely on the rebound after investors lost a bit of faith in the company around the time the financial crisis was in full swing.
That's because Google has been raking in cash from mobile and web advertisements. The success of the big G's Android platform has played its part in the company's recent stock surge as well. In short, Apple may be looking pretty good to investors at the moment, but this record-setting day indicates that investors see Google as a strong player too. There are still some variables when it comes to Google's future, however, with its recent $12.5 billion purchase of Motorola immediately coming to mind. That's a lot of money to drop in just one transaction, and though the two revealed a slew of new Motorola devices not too long ago, investors are still a little uneasy when it comes to the future of Google and Motorola. Will that be enough to bring Google's stock price down a significant amount? Time will tell, so stay tuned.
[via Reuters]