Google's stock price breaks $800 for 1st time

[Omaha Steve]

Source: AP-Excite

By MICHAEL LIEDTKE

SAN FRANCISCO (AP) - Google's stock price topped $800 for the first time Tuesday amid renewed confidence in the company's ability to reap steadily higher profits from its dominance of Internet search and prominence in the increasingly important mobile device market.

The milestone comes more than five years after Google's shares initially hit $700. Not long after breaking that barrier in October 2007, the economy collapsed into the worst recession since World War II and Google's stock tumbled into a prolonged malaise that eventually led to a change in leadership.

Besides enriching Google's employees and other shareholders, the company's resurgent stock is an implicit endorsement of co-founder Larry Page. He replaced his managerial mentor, Eric Schmidt, as CEO in April 2011. Google's stock has risen by about 35 percent since Page took over. By contrast, the benchmark Standard & Poor's 500 index has climbed by 15 percent over the same stretch. Most of Google's gains have occurred in the past seven months.

In morning trading, Google's stock was at $801.99, up 1.2 percent, or $9.10.

FULL story at link.


Read more: http://apnews.excite.com/article/20130219/DA4HQH402.html

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In this Oct. 17, 2012, file photo, a man raises his hand during at Google offices. Google's stock price topped $800 for the first time Tuesday, Feb. 20, 2013, amid renewed confidence in the company's ability to reap steadily higher profits from its dominance of Internet search and prominence in the increasingly important mobile device market. (AP Photo/Mark Lennihan)

[BumRushDaShow]

1. Ironically, M$ would split its stock

when it went too high. From what I found was that they split some 9 times over the years, where their stock would have been about $6000 or more per share if they had left it alone.

Meanwhile Google and Apple seem to enjoy leaving their stock prices in the hundreds of dollars per share.

[BadgerKid]

2. Companies generally split stock to attract investors.

Individual investors, in particular. I understand Google and Apple to be rather rife with cash. Actually, I believe there is recent news about someone trying to sue Apple to increase their dividend. While individuals and BigMoney(TM) can both play the derivatives market, I suppose it may be largely the latter that is engaging in outright buying and selling of stock.

[dmallind]

3. "how the Hell is Google's stock worth $187?": DU's self-appointed market experts 1/26/2005

.. generally the same type who think Kunstler is a prophet and a 90% crash is coming this year. You'd think DU in general would be laughing at the doomers by now, but nope - just a few of us.

And no to forestall the usual nutjobbery, laughing at doomers does not mean I think that the DJIA will hit 20000 this year or never go down again.

It just won't collapse to a tiny fraction of current value, and it won't lose over the long term using typical DCA periodic investing a la 401ks.

[onehandle]

4. Google. #1 tech lobbyist in Washington.

http://tech.fortune.cnn.com/2013/02/18/apple-google-lobbying-washington/