Android, even indirectly, is but one tool in Google's money-making arsenal
On Monday Google stock (GOOG) closed above $861, marking a new all time high for the Mountain View search giant. This news, of course, sparked a bunch of headlines talking about it. Most of the “stories” behind the headlines are lacking any substance whatsoever. “Google hit a new all time high. It rallied by x% to close at $y, and the stock is now up over z% year to date.” That’s typical. Useless. Garbage. Fill-in-the-blank process stories.
So let’s talk a bit about Google. Google went public in the summer of 2004. I remember it well because, as an analyst in the financial community, the online auction style of IPO they forced upon Morgan Stanley and Credit Suisse was very much unconventional. And that pretty much sums up how Google operates. It runs the show, and it’s not your average show.
Google went public at $85 per share and had a massive run leading up to 2008, when the whole market collapsed as a result of bad mortgage portfolios (the whole collateralized debt obligation market, asset backed commercial paper, etc). So after peaking out around $700, the stock tanked, dropping briefly below $300. As the market recovered from the housing market problems, Google recovered, too. But not to where it once was. It had been bouncing between $500 and $600 for a couple of years.
Wall Street had moved onto other exciting stories. Google was still growing, but not by super high double digits, or triple digits like before. Yet grow, it did. And collect cash it did. And launch important new businesses like Android, it did.
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Source: http://feedproxy.google.com/~r/androidcentral/~3/MC4yfP8dE2c/story01.htm
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