Google Stock Hits $800 For First Time
Google stock during early trading on Tuesday reached over $800 per share for the first time in company history.
Google stock passed $700 per share in September 2012 after a five year decline. Stock prices then slipped after Google’s Q3 earnings report showcased some troubling numbers that concerned investors.
Shortly after its decline, Google’s continued success with the Google Android platform; increasing sales for Google Chrome OS powered notebooks and better search advertising results helped the company rebound.
Investors were also pleased when the FTC issued only minor concessions against Google over several ongoing disputes.
Google eventually went on to post its first ever $50 billion year after beating analysts expectations for Q4 2012.
The company’s stock rebound was likely the result of not only products being offered but also future products that are already being showcased. In 2012, Google introduced Google Glass, pushed further into the autonomous vehicles field, and rolled out its first 1-gigabyte fiber-optic networks. In the meantime, competitor Apple lost some of its customer loyalty and failed to impress with the iPhone 5 and iOS 6. Apple in comparison is fighting to push its stock prices back over $500 per share.
At the time of this article, Google shares are sitting at $801.87 during regular trading hours.
With the Samsung Galaxy S IV, a new Nexus phone, various tablets, and other Google based products expected in 2013 we could witness further growth for the search giant.
Acer recently announced that five percent of its notebook sales in 2012 were the result of its $199 Chromebook. With those numbers likely to increase in 2013, we could end up seeing many more Google products in consumers hands.