Google shares reach $600 and could hit $700: Purchase of YouTube helped
Google shares have reached $600 which is a new benchmark for this search engine giant, this is a huge difference to the $85 per share when the company first floated on the stock exchange back in 2004. If you thought that $600 a share were high think again as many analysts expect them to rise to $700 in the next year.
What has helped Google shares rise so much is their purchase of YouTube the web video giant, and also by doing what Microsoft used to do so well, and that is by offering an e-mail surface and also a range of other web based services.
Google Inc is now worth $187 billion and is ranked the eleventh largest company on the Standard & Poor’s 500 Index by market capitalization. Google as a company is now trading at 31 times what had been projected for 2008 earnings. The company shows no signs of slowing down, which is why many believe that Google Inc will reach $700 per share in another year.
Get the latest news in our RSS Feed, Newsletter or follow us on Twitter.
For Google to surpass Microsoft in market capitalization it needs to hit $1000 a share. This is possible if everything goes right: http://fishtrain.com/2007/10/08/google-at-1000share/