Google stock hits all-time high
If you happen to own Google stock, it’s time to celebrate. Just one day after Android’s fourth birthday, Google’s share price has hit an all-time high, breaking the previous record, which was set all the way back in November of 2007.
During afternoon trading, share prices hit a high of $748.90, just barely beating the record set in November, which was $747.24. Google has seen a lot of change in the just-under five years since it hit its last high, including its shares trading for under $300.
For a time, it seemed that Google had adopted a “throw it at the wall and see what sticks” method of doing business, rapidly acquiring products and services or introducing their own. More often than not, these services would be shut down a short time later. While some of these ventures were successful, like Google Voice, others like Google Buzz and Google Wave didn’t fare as well.
In April of 2011, Google co-founder Larry Page stepped into the position of chief executive, replacing long-time CEO Eric Schmidt, who stayed on as executive chairman. Since then, Page has helped to trim back some of the sprawling ambition of various Google projects, as well as introducing successful new ones, like Google+.
While Google is certainly doing well, it has been making some risky maneuvers lately, such as paying $12.5 billion to acquire Motorola Mobility back in May. Google has been successful with the Nexus 7, but it still remains to be seen how effectively it can manage a hardware business.
On one hand, the future certainly looks bright for Google, with Android recently reaching 500 million activations globally and commanding a hefty portion of the market share. On the other hand, with Google facing antitrust investigations and patent lawsuits, there are some clouds on the horizon, and Google should be prepared to face some arduous challenges.
What do you think the future holds for Google? Where do you think the company will be in another five years?