Google beats Microsoft in market value
Google soared past Microsoft in terms of market value on Monday to become the second-richest firm in the tech world behind Apple.
Google shares gained 0.96 per cent to end at $761.78, giving the internet giant a market capitalization of $249.1 billion. Microsoft meanwhile fell 0.91 per cent to $29.49, translating into a market worth of $247.2 billion.
Both remained well behind Apple, which shed 1.16 per cent to $659.39, meaning its market cap is just above $618 billion.
Google's stock price has climbed steadily this year as the California-based company bolstered its positions in key Internet growth areas with its dominant search engine, Android mobile operating system and YouTube video venue.
The shares got a boost last week from a Citigroup note advising investors that the Google stock price could "rise significantly in the 12 months ahead."
A note Monday from Trip Chowdhry at Global Equities Research said both Google and Applehave "strong momentum" in the mobile Internet sector while "developer interest in Windows Phone is almost non-existent."
Chowdhry added that Google's "innovation velocity far exceeds any other company."
Enthusiasm for Microsoft has been lukewarm, despite its upcoming launch of the Windows 8operating system and a push into the tablet and phone markets.
0 comments:
Post a Comment