Apple was in the news last week as its shares hit an all-time high, following the launch of the iPhone 5. It’s Google’s time to celebrate this time around. Today, the company’s shares hit an all-time high of $748.90, and may go even higher as the day progresses. Its market capitalization is nearly $245 billion, the highest it has ever been, and the search giant may soon overtake Microsoft, which currently has a market cap of near $257 billion.
Google currently has a run rate of nearly $50 billion in annual revenue, based on its earnings last quarter, and its ad business is stronger than ever. The hype surrounding Facebook’s social advertising and its threat to Google has died down, and analysts seem to have renewed faith in Google’s trusty old search advertising machine which still generates tons of money.
We expect the rapid proliferation of Android in the mobile space to help Google continue its domination of the advertising space, both on desktop and on mobile. It might even hit $750 today, before trading hours end. Compare that to Facebook, which is trading near its all-time low.