Google Stock Hits Record High On Monday
Google shares hit an all-time high on Monday, at one point reaching $748.90, according to CNN Money. As of the time of this writing, shares are at: $748.21 (+14.22, 1.94%).
The publication attributes the rise to continued search domination and strides made with Android (a reported 68% share of the global smartphone market during the second quarter).
Some are pointing to the negativity that has surrounded Google rival Apple in the maps departement, since the release of iOS 6 and the iPhone 5. It seems unlikely that this is directly responsible for the immediate uptick in Google shares, but Google may have some further monetization efforts on the horizon when it comes to maps. Earlier, we looked at a new patent application from the company related to showing ads on maps. It sure doesn’t seem like something that would turn investors off.
Apple stock is actually down today, at $684.24 (-15.85, -2.26%) at the time of this writing, after the company sold over 5 million iPhone 5s in the first weekend of availability.