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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