Wednesday, June 26, 2013

Google Inches Closer To The $1,000 Per Share Stock Price Club

From BuzzFeed: JP Morgan issued a new research note this morning that boosted its price target on Google shares to more than $1,000, making it the tenth bank to feature a stock price target benchmark of more than $1,000 per share. JP Morgan cited better results from Google’s search engine marketing, optimism about the future of YouTube taking marketing spend from TV, and the potential that Motorola-built devices have for the company as reasons for raising its target price.

That doesn’t necessarily mean that Google is a more valuable company than some other tech companies that have lower stock prices , however. For example, Apple shares trade around $400, but it has a total worth of nearly $400 billion, making it one of the most valuable companies on the market. Google’s market capitalization, by comparison is nearly $300 billion. But it is hard to deny the rapid growth of Google’s share price as it charges toward the $1,000 per share threshold….

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