Google Hits $700 a Share
With the rumored iPhone killer waiting in the wings, Google hit $700+ a share this morning.
It seems like it was just last week when we were talking about them going over $600. Their powerful market position has increased their valuation by over 30% in about a month.
Don’t you wish you had some cash to invest when it was initially offered in 2004 at $85 a share? Google founders Larry Page and Sergey Brin consider Warren Buffett’s Berkshire Hathaway an inspiration for their stock strategy so they don’t want to split it to make it more affordable for us po’ folks because that brings in spammers, er, speculators.
What’s funny is that web site owners, big and small, are what’s got them there. Almost all of their income is from Adwords sales. They’re looking to expand this into the mobile market next year so there is no where to go but up, is there?
The major risk to Google, as I’ve mentioned before, is the problem of linking advertising sales to search when they dominate that market. This could cause them antitrust woes at some point.
What’s your thinking? Are they going to hit $800, $1000, even $2000 a share in the next year? Or are they due for a fall?
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hi Frank, gotta love your “random post” feature. I’m surprised no one ever commented on this post. I liked google long before they went public and was planning on investing in them, but when I heard what their opening price was to be I thought it was WAY TOO HIGH (it may have been $85 but I think like most IPOs one would have got in closer to $100). Anyway, $85 or $100, I though it was over-valued and took a pass. One of the many “would’ve, could’ve, should’ve” stories of my life.
~ Steve, the man with many trade show booths
PS. As of today (July 1, 2008) google is at $535. So I guess I can be glad I didn’t buy at $700…