For Google, the sky is really the limit. After having achieved so much success over the years, it is a question of what more can they do. Apparently, the company isn’t letting up by any means. The stock price for the tech giant went upward of $800 for the first time ever. Being the world’s leading search engine has its benefits but the hike in share price has been attributed to the rise of mobile computing. In the past year alone, Google’s stock has climbed up by nearly a third, enjoying unprecedented success.

Google Stock Price Tops $800

Google Beats Market Growth

The shares of Google went by over $10, experiencing a growth of 1.8% to reach the price level of $806.85. As reported by the New York Stock Exchange, this is the highest price Google stock has reached ever since the company went public back in August 2004. The notable aspect of this growth is that Google’s price has increased by almost 33% over the past year. The overall growth of the market has been around 12%. This means Google’s shares are growing three times as much as the market average.

Mobile Computing Playing a Major Role

Over the years, a large share of Google’s revenue has been generated through the ads and promotional materials placed on its websites by promoters, businesses and advertisers. As more people access the internet through smartphones and tablets, a whole new market has emerged for Google’s services. Not surprisingly, the company’s revenue from ads has increased considerably. Controlling 67% of the search market, Google would only keep growing in the near future.

Of the entire digital ad revenue, Google’s share works out to be 41%. This is not surprising as Google has a 75% market share when it comes to search-based advertising. Even in mobile ads, Google commands over 50% of the market share. Even Facebook only has an 8% share despite being the world’s most-used search engine. This shows Google’s transcendence and dominance across platforms and why other search engines are struggling to keep up.

Google Beats Apple on the Stock Market

Regardless of what people might say Google is surely beating Apple on the stock market. During the time Google’s shares have increased by 33%, Apple’s stock has fallen by 8.4%. Comparing the price to earnings ratio for both companies, Google’s shares are currently 56% better off than Apple. This is the first time since the launch of the iPhone, way back in July 2006 that the gap has been this big. Apple would surely take this news with a pinch of salt. Google has beaten the world’s biggest tech company!

There is no doubt that $800+ is a high price to pay for the shares of any company but each share currently is worth a profit of $10.65. The profit per share is greater than most market experts had worked out which goes to show how well Google has performed as a company over the past year. People who had bought Google’s shares early on would be rejoicing at this news!

[Image via futurepredictions]