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article imageGoogle Crosses $600 a Share for the First Time

By Chris V. Thangham     Oct 9, 2007 in Internet
Google's stock price has been increasing steadily for the past few weeks. The company crossed the $600-per-share value Monday, and now is traded at $615 per share. Google’s market value exceeds giants like Wal-Mart, Coca-Cola, HP and IBM Corp.
No one would have anticipated such growth in Google and so quickly. The nine-year-old company started of at $85 per share in 2004, and in just three years it has seen its value increased seven times to more than $600. It is phenomenal growth and the company is still expected to reach the $700-per-share mark according to Jim Kramer.
The current market value for Google stands at $190 billion and counting, exceeing the market value of other major corporations like Wal-Mart Stores, Coca-Cola Co., Hewlett Packard Co., and IBM Corp.
It took Google about 10-and-a-half months to go from $500 to $600 a share and more than a year from $400 to $500, according to AP.
Google has not made many major announcements lately, so no one knows the reason for a sudden rise in value, but with its Google Adsense profits alone, many say the stock is valued.
Google has also said it wants to enter into mobile platforms soon, so it is working on an open source mobile OS platform to gain a foothold in the mobile market. It is also adding mobile ads that may help its fuel the company's profits.
I would say it's not good to buy Google shares now because of the high value of the share. But it is a good company in which to invest for long-term results as they have steady profits.
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