Google's stock rides latest rally to new high

Feb 01, 2013

Google's stock climbed to a new high Friday as Wall Street's best known indexes approached record territory, too.

The shares of the leader peaked at $776.70 during the afternoon to eclipse the stock's previous record of $774.38 reached in early October. It closed Friday at $775.60, up $19.91, or 2.6 percent for the session. The company, based in Mountain View, Calif., went public at $85 a share in Aug. 2004.

Meanwhile the closed above 14,000 Friday for first time since October 2007—near the bellwether's all-time high of 14,164. The broader Standard & Poor's 500 index, which includes Inc., was up about 1 percent and also flirting with a record.

The stock market's rising tide isn't lifting all companies. For instance, the stock of Google rival Apple Inc. is 36 percent below the peak price it reached in September. Apple's shares shed another $1.87 Friday to close at $453.62.

Google's stock has been on the upswing since the company reported fourth-quarter earnings 10 days ago. Google is still enjoying strong growth in Internet advertising as it extends its reach to smartphones and tablet computers.

Explore further: Facebook CEO wants more students to explore tech

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Tale of the tape: Google versus Facebook

May 17, 2012

Facebook is the hottest Internet company to hit the stock market since Google went public in 2004. The Silicon Valley companies, located seven miles apart, also happen to be locked in a bitter battle for Web surfers' allegiance ...

S&P says sell Google's shares after Motorola deal

Aug 16, 2011

(AP) -- Standard & Poor's is saying investors should sell Google's stock because it believes the search leader's decision to buy Motorola Mobility increases the risk to the company and its shares.

Recommended for you

Alibaba makes Wall Street debut

2 hours ago

Alibaba made its long-awaited Wall Street debut Friday on the heels of a record stock offering that opens the door to global expansion for the Chinese online retail giant.

Alibaba IPO to boost employee fortunes to $8 bn

4 hours ago

Employees of Chinese e-commerce giant Alibaba will see their fortunes swell to nearly $8 billion as the company prepares a massive US stock offering that could be valued at $25 billion.

Alibaba mega IPO caps founder Jack Ma success tale

7 hours ago

When Jack Ma founded Alibaba 15 years ago he insisted the e-commerce venture should see itself as competing against Silicon Valley, not other Chinese companies. That bold ambition from a time when China was ...

User comments : 0