• On GameSpot: Thinking about buying a Wii?
October 31, 2007 7:10 AM PDT

Google's shares pass $700 mark

by Dawn Kawamoto
  • Font size
  • Print
  • 5 comments

Google's shares kissed the $700 mark in early morning trading Wednesday, marking a new first for the Internet giant and its soaring stock price.

Google's stock rose to more than $701 a share, following reports that it is pitching its "Gphone" to Verizon Wireless. The stock was up $4.95, or less than 1 percent, in morning trading, from its close of $694.77 on Tuesday.

Just a little more than three weeks ago, Google shares passed the $600 mark and analysts were speculating its shares could climb as high as $700 within the next year. Apparently, it's been a quick year.

For Google, its ride on Wall Street has been a blast since it debuted in 2004 at $85 a share. The share price has risen alongside its market share in search, as it has leaped ahead of archrival Yahoo on a number of fronts.

With Google hitting the $700 mark within weeks of its previous milestone, Wall Street soothsayers may soon be setting the bar at $800 a share. And who knows--Google may have something extra to be thankful for by T-Day.

Dawn Kawamoto covers enterprise security and financial news relating to technology for CNET News. E-mail Dawn.
advertisement
Click Here
Recent posts from News Blog
Nvidia puts NForce chipset development on hold
Opera 10 browser is here
Neil Young Archives Blu-ray: Rip off?
Acronis revises survey results about backup habits
Acronis miscalculates data on users' bad backup habits
Flickr co-founder presses beta button
Comcast, Sony open retail store
Cox to try coaxing the Internet into submission
Add a Comment (Log in or register) (5 Comments)
  • prev
  • 1
  • next
Remember when it was $85....
by tchmanz28 October 31, 2007 8:39 AM PDT
Remember when it was $85, and the guy in the cube next to you had just lost his life savings to the internet bubble bust, and talked you out of purchasing any tech stocks.....man.....
Reply to this comment
RedHat
by `WarpKat October 31, 2007 10:07 AM PDT
I remember saying to a former supervisor and investor that RedHat was going to do well long-term and he should invest in it at the time of the IPO.

His response then?

"It's nothing but a hobby OS."

His response now?

"!%$#$@%^@#$%@#$^@#%"
And to think, over vaporware!
by WJeansonne October 31, 2007 9:27 AM PDT
As P.T. Barnum put it...well you know it. :-)
Reply to this comment
Google bigger than the rest of the Big Web
by Jesse Chan October 31, 2007 11:54 AM PDT
Google is on their way to reaching $1000 a share:
http://fishtrain.com/2007/10/08/google-at-1000share/

Not only that, but right now their marketshare is greater than all the rest of the Big Web combined:
http://fishtrain.com/2007/10/30/google-worth-more-than-rest-of-the-big-web/
Reply to this comment
Microsoft = $344Billion Google $220B
by jogiba October 31, 2007 6:09 PM PDT
Market cap
Microsoft = $344Billion Google $220B
msft P/E 24.15
goog P/E 55.31

Even at $1,000 a share Google's market cap would still be below Microsoft's current market cap.
Reply to this comment
(5 Comments)
  • prev
  • 1
  • next
advertisement

Inside the Apple, er, Microsoft Store

Although Redmond's foray into retail bears a big resemblance to Apple's approach, Microsoft has added some distinctive features to draw casual PC buyers and techies alike.

Big marketing budget drives Moto Droid sales

Verizon and Motorola are spending big bucks--$100 million--on marketing the new smartphone, and it looks like it will pay off with 1 million devices sold by year's end.

About News Blog

Recent posts on technology, trends, and more.

Add this feed to your online news reader

advertisement
advertisement

Inside CNET News

Scroll Left Scroll Right