News Desk
Will Google Shares Reach $600?
The Web advertising market in the U.S. is predicted to grow 29% this year to $21.7 billion
Oct. 3, 2007 03:00 AM
Can the stock of Google, whose share of the Internet search market according to ComScore increased to 56.5% in August (from 55.2% in July) and who is striving to acquire DoubleClick for $3.1BN, reach $600, just three years after it began trading - at $85 - in 2004?
With the third-highest market cap (more than $180BN) of any U.S. technology company - Microsoft is #1 and and Cisco Systems is #2 - Google's share price this year alone has risen by 27%.
It now has the sixth-highest stock price in the entire U.S., having yesterday reached $596.81 on the Nasdaq Stock Market before settling to $584.39 at 4:00PM New York time - a remarkable feat given the fact that the GOOG share price dipped below the $500 level in mid-August after the company missed its second-quarter earnings numbers in July.
Today may just be the day that it hits $600.
About Search News DeskSYS-CON Media's Search Developer's Journal (search.sys-con.com), is the first and only global publication to present the hottest timely topics on the merging search engine companies, search optimization and search engine marketing industry, and all related articles, feature and news stories for search technology professionals.
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