Friday, May 24, 2024

Google Share Price Tops $900 for First Time

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Wednesday was a big day for Google. Not only did the search giant kick off its annual I/O developer conference, it also marked the first time the company’s stock climbed past $900. In addition, the number 900 was also important for the company for another reason: it has now racked up more than 900 million Android device activations.

The Wall Street Journal’s Steven Russolillo reported, “Google Inc. jumped above $900 on Wednesday for the first time ever, less than three months after the search giant’s shares initially topped $800. The move comes on the same day of the Google I/O developer conference in San Francisco, in which Google is set to launch a paid subscription music-streaming service akin to that of Spotify AB.”

Jeremy C. Owens with added, “Google shares sold for as much as $911.76 in Wednesday’s morning session in New York, which ended at 9 a.m. Pacific time with Google stock selling for $908.95, a daily gain of 2.8 percent. At the intraday record set Wednesday, Google had gained nearly 29 percent in 2013, adding $200 to its price.”

USA Today’s Brett Molina commented, “Several reports hint at what Google may reveal during their keynote this afternoon, including a potential music subscription service and a massive update to Google Maps. Also, don’t be surprised to hear more about their wearable computing device Google Glass, which USA TODAY’s Ed Baig recently tried out. Any product announcements could sway Google’s stock price, which has risen 38% in the last six months.”

In other news related to Google, All Things D’s Ina Fried noted, “Google said Wednesday that there are now 900 million Android devices out there. ‘It’s an extraordinary achievement,’ Google’s Sundar Pichai said at the company’s I/O conference on Wednesday. ‘But it is an incredible ecosystem achievement.'”

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