When people Google is ‘the’ search engine, you better believe it. Google has been a market leader and innovator since its breakout at the turn of the millennium. Even with all the phenomenal success it has seen over the years, Google continues to make heads turn with its achievements. On Monday, Google captured the headlines in the financial world when its stock rose to a record high price level. It is another feather in the cap of the uber-successful company that shows no signs of slowing down.
Stakeholders in the company would be over the moon as the prices rose to above $750 during the day before closing out on $749.38. It has taken almost five years for Google’s shares to reach a record-high. Most of it can be attributed to its continuing status as the numero uno search engine. A major factor is its Android operating system, which has captured the smartphone market. With nearly 70% of the smartphone market in its grasp, it is no surprise that Google’s stock continues to rise.
Current Situation Bodes Well for Future
Over the past few years, the companies that have seen success in the stock market belong to the consumer internet industry. Google has been a major player for a long time with its search engine, but its performance is now stronger than ever. Already investors are talking about how Google could exceed the $850 a share barrier. Even the launch of Facebook as a publicly traded company and Apple’s success with the iPhone 5 hasn’t threatened Google stock.
Apart from the search engine, Google has tapped into the smartphone, video, cloud computing and social media markets. With Google+ primed to be the next big thing on the internet, Google’s stock can be expected to touch new highs in the near future.