Business

Google exceeds expectations
by Claudia Sonea

According to a poll among analysts made by Thomson Financial the average price for Google shares was expected to be $739.23 at the end of the year. However, after Wednesday, there is most likely to exceed all expectations in the following days. The Mountain View-based company's shares reached a peak of $707 on Wednesday leaping from mid-September from $600 to $700 which has an equivalent in market value of 34 percent. The giant company has now a $55 billion market value, more than the total $42 billion that Yahoo Inc. has. This result comes after Google announce that it will revive the social network competition, launching a new strategy for outside developers. Furthermore, the news of an operating system designed for mobile phones distributing ads to people on the go made investors gasp. Google co-founders Larry Page and Sergey Brin refused to split their company's stock and offer to other people the opportunity to buy a few shares, because their theory sustains a higher stock price that attracts more patient and knowledgeable investors. Their theory proves to work perfectly; a $10,000 investment in Google's stock at an offering price of $85 in August 2004 would now be worth about $83,000. Despite the results Wall Street has higher expectations and belief this is only the beginning. Dinosaur Securities analyst David Garrity on Wednesday predicted Google's stock will climb to $985 during the next year. The main revenue comes from advertising and the company focuses on that. New online advertising channels featuring video, graphics and other more compelling features were introduced lat year and also there was an expansion into television, radio and print. Moreover, Google will innovate the telecommunications industry by introducing inexpensive cell phones that facilitates the access Google's search engine, maps, e-mail and other applications when you don't have a PC to use. Stephen Arnold who has just released a study on the giant company calls it Googzilla due to the enormous power it has and the fact that it barely has any competition. Stay connected and search some more with the best: Google.

related story: http://news.yahoo.com/s/ap/20071031/ap_on_hi_te/google_stock;_ylt=AgzEyDl8NmrHIWvTTPek2V6s0NUE

by Claudia Sonea for PocketNews (http://pocketnews.tv)

PocketNews is a new real-time news broadcaster delivering the latest and hottest news right to your pocket ! With global clients who want to be kept up to date, PocketNews is everyone's way of keeping in touch with the World.

posted by Blog TechSource @ 6:02 PM