Google shares rise Monday continuing 10-week streak

Google shares were up nearly 2 percent on Monday to $749.38, exceeding the record hike since November 2011. The stock has seen an upward trend for past ten weeks and is still counting.

The main reason for the hot streak that Google is running is its intelligent investment in different ventures and a profitable business in online advertisement. Though it was touted before to be one lacklustre company for investing in then-useless ventures like driver-less cars and the likes, it has proven its business intellect over the years.

The newest upward move is because of the sceptic performance from rivals like Facebook and Apple.

Analysts feared Google Ads will receive a blow from the excessive use of Facebook, the online social network. Google Ads were expected to incur losses as more internet surfers spent their time Facebooking while not bothering for Google Ads. However, that was not the case at all. Ads have been inching by the given day and the search engine giant has started a new service called Google Shopping (with visual ads) to promote retailers directly to online shoppers.

As for Facebook, the FB labelled stock has been all over the place at NASDAQ. Resting at 20 odd bucks, it never saw the vicinity of its IPO price, $38. Last six weeks totted the price a little up after CEO Mark Zuckerberg made the first public appearance since going public. However, Monday the stock was again down.

Apple’s recent stunt was introducing its own Maps app in the latest iPhone has hit the rocks as well. Critics have mixed opinion on the application and users are now missing Google Maps in iOS that Apple Maps replaced.

There was rumour of a new Google Maps submitted for approval with Apple on App Store, as we reported, but Google mooted it on Tuesday. Even though the new app is still in the making, as rumoured, Google stock is on the high flight of late. The stock has been up 13 percent in the last 10 weeks.

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Posted by Usman Khalid on Sep 26 2012. Filed under Sci-Tech. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.