Google: First Tech Stock to Pass $800
It took Google five years to go from $700 to $800 nowhere like the spectacular rollercoaster ride Apple’s been on
By: Maureen O'Gara
Feb. 19, 2013 03:09 PM
Google Tuesday became the first high-tech stock ever to hit $800 a share, joining an exclusive club inhabited by only three other companies including Berkshire Hathaway, whose Class A stock sells for $151,000 and change.
Why exactly Google's enjoying this all-time high right now is unclear unless the currently upbeat punters just need an Apple replacement and Google feels a safe bet.
The company hasn't figured out how to monetize its huge Android presence and for some reason or another it's reportedly thinking about opening its own retail stores to peddle Google-branded hardware like Chromebooks and Nexus Tablets, maybe Google TV and so-called Google Glass spectacles, which are expected to sell at a premium.
It could of course represent all Android widgets but only selling Motorola-ware could alienate the Android contingent.
Google's also facing coordinated "repressive action" over its privacy policies by local European regulators according to the Wall Street Journal.
It took Google five years to go from $700 to $800 nowhere like the spectacular rollercoaster ride Apple's been on.
Google CEO Larry Page, who took over from Eric Schmidt in 2011 and whose elevation was met with a certain amount of wariness, must feel gratified to see his stock hit $804.50 an hour before the market closed.
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