As the ghosts and goblins prepare to roam the streets this evening, financial advisors who once thought that Google stock was a scary proposition must be scratching their heads. Amongst rumors of a Google Phone, talks with Verizon about putting Google applications on phones it offers, and plans for Google to get further involved in the social network space, Google shares surged passed $700.
Google (GOOG) is a powerful entity. How powerful you ask? Well when compared to its search competition, Google revenues are higher than those of AOL, MSN and Yahoo combined. The key for Google is innovation. While some suggest the Google Phone is just an Urban Legend, it is no secret that Google is developing operating software to power mobile phones. It is also no secret that the mobile arena is one that Google is very interested in. In fact Marissa Mayer of Google hinted at this at Search Engine Strategies San Jose in August.
John Gapper over at the Financial Post.com had an interesting post on "how mighty Google is ringing the changes". Google has is definitely a mover and shaker. The fact that their shares continue to rise is not a surprise. Expect this trend to continue for some time.
Labels: Google Share Price