November 26, 2006
Google Blog #3
Google Shares Reaches $500 landmark
After successfully acquiring YouTube, Google's stock reached a landmark of $500 per share, closing at $509.65. Since it first went public at $85, Google jumped nearly six-folds. The #1 search engine surpass this milestone for the first time in history, demonstrating strong market power and healthy cash flow.
Over the last couple of years, Google seems to have dominated the search engine business, outperforming Yahoo. In fact, with its stock price rising, Google is now the second most valuable company in Silicon Valley, surpassing Intel and Hewlett-Packard. Cisco remains to be the only other company more profitable. Wow!
It seems unimaginable that a company providing a simple type-and-click search service can surpass computer giant Hewlett-Packard as well as Intel, the world’s largest chip maker.
From an investor’s perspective, Google has momentum. Growing since 2004 and recently acquiring other popular start-ups, Google will continue to increase sales and profit as demand for online advertising increases. Expectations for next quarter earnings are high according to several analysts.
``Expectations for the online advertising market overall remain very robust,'' said Sasa Zorovic, an analyst at Oppenheimer & Co. in Boston who rates the shares 'buy.' ``Revenue continues to grow very nicely.''
“I was one of the first analysts to expect $100 billion market cap,” Rohan said. “It’s clearly exceeded any expectations I could’ve had along the way. The growth that Google has been able to capture is unprecedented.”
All in all, Google has made its mark. Everyone knows it, and most people use it. Synonymous with the word search, “Google” is defined as “to search for information about a specific person through the Google search engine” on dictionary.com.
Again, it seems unimaginable that a simple type-and-click search engine service can be worth so much, and it is absolutely ridiculous that Google have over 100 millionaire employees. This company could prove very profitable as we BBA's jumpstart our careers, where the typical annual starting salary of $60,000 could amass up to millions.
With one great idea and over 80,000 geeks working, Google is now worth over $155 billion!!!!!!
Posted by lisun at November 26, 2006 09:00 PM