Google races past Microsoft to number two tech firm

Google's stock price has climbed steadily this year
Google soared past Microsoft in terms of market value Monday to become the second-richest firm in the tech world behind Apple.

Google soared past Microsoft in terms of market value Monday to become the second-richest firm in the tech world behind Apple.

Google shares gained 0.96 percent to end at $761.78, giving the a of $249.1 billion. Microsoft meanwhile fell 0.91 percent to $29.49, translating into a market worth of $247.2 billion.

Both remained well behind Apple, which shed 1.16 percent to $659.39, meaning its market cap is just above $618 billion.

Google's stock price has climbed steadily this year as the California-based company bolstered its positions in key Internet growth areas with its dominant search engine, Android mobile operating system and YouTube video venue.

The shares got a boost last week from a Citigroup note advising investors that the Google stock price could "rise significantly in the 12 months ahead."

A note Monday from Trip Chowdhry at Global Equities Research said both Google and Apple have "strong momentum" in the mobile Internet sector while "developer interest in is almost non-existent."

Chowdhry added that 's "innovation velocity far exceeds any other company."

Enthusiasm for Microsoft has been lukewarm, despite its upcoming launch of the Windows 8 operating system and a push into the tablet and phone markets.


Explore further

Google shares hit new high (Update)

(c) 2012 AFP

Citation: Google races past Microsoft to number two tech firm (2012, October 1) retrieved 27 February 2021 from https://phys.org/news/2012-10-google-microsoft-tech-firm.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments