Google Shares Above $700. Again.
After spiking to a 52-week high of $712.25 Friday, Google’s stock ended the day at $706.15, a price it hasn’t hit since 2007. That’s still a ways off from the record high of $747.24 it hit in November 2007, but it’s clearly headed into the same territory.
Google’s shares have gained about 19 percent since the company last reported earnings, when it turned in solid financials thanks to its thriving core advertising business.
More recently, they’ve been buoyed by Google’s well-received 7-inch Nexus tablet. Also fueling this resurgence of faith: What appears to be a tempering of concern over the integration of Motorola Mobility, which Google acquired earlier this year for $12.5 billion. The search behemoth recently hired Barclays to help it shop Motorola’s Home division, which makes and sells set-top boxes and cable modems. And it’s believed to be looking for a price of $2 billion.