Google’s Growth Continues

Google’s might continues to grow as it closed at a record of US$821.50 last Monday. Industry analysts predict that Google may even hit the US$1,000 mark.

This makes Google the third most valuable company, following Exxon Mobil Corp. and Apple.

Aside from its stock surge, Google is also enjoying being the dominant player in the mobile phone software market with its Android leading in mobile advertising.

Google is on its momentum since late 2012. The tech giant has experienced several record highs and is enjoying a 16.1 percent increase in its stock price since the start of 2013. Some of the largest brokerages said it is likely that Google will hit US$1,000 per share.

Eric Schmidt, the executive chairman of Google, has recently filed his papers to the US Securities and Exchange Commission, selling some 42 percent of his personal stake in Google. Schmidt cited “individual asset diversification and liquidity.”

The executive chairman owns some 7.6 million shares of combined Class and B common stock. With his filing, Schmidt is selling 3.2 million shares of his Class A stock. At Google’s current value, Schmidt is expected to get as much as US$2.6 billion.

From its search engine roots, Google has made the transition to be a dominant force in smartphones and tablets. Needham & Co. analyst Kerry Rice said mobile search is doing very well and it is likely that mobile is the future.