Monday, June 06, 2005
USATODAY.com - Google shares gallop higher:
"By Adam Shell, USA TODAY
NEW YORK — Who says real estate is the only place to make big money? Investors who own shares of Google (GOOG), the dot-com darling of the moment, are raking in gains at such a furious pace, it's hard not to flash back to the go-go 1990s.
Google, basking in the adoration of suddenly fawning analysts who seem to be in a competition to place the highest price target on the red-hot stock, is now within striking range of $300 per share, five months after it first crossed $200. Shares of the Internet search engine rose $10.73, or 3.9%, to $288 Wednesday, a 31% gain since the beginning of May alone.
The driving force behind Wednesday's rally was a potent combination of momentum buying and good, old-fashioned salesmanship from a leading Wall Street firm when Credit Suisse First Boston boosted its price target on Google to $350 from $275.
Up-and-coming:
Less than 10 months after going public, Google is the fifth-most-valuable company on the Nasdaq Stock Market.
Company
Market value (in billions)
Microsoft $279
Intel $169
Cisco $125
Dell $99
Google $80
Source: USA TODAY research..."
"By Adam Shell, USA TODAY
NEW YORK — Who says real estate is the only place to make big money? Investors who own shares of Google (GOOG), the dot-com darling of the moment, are raking in gains at such a furious pace, it's hard not to flash back to the go-go 1990s.
Google, basking in the adoration of suddenly fawning analysts who seem to be in a competition to place the highest price target on the red-hot stock, is now within striking range of $300 per share, five months after it first crossed $200. Shares of the Internet search engine rose $10.73, or 3.9%, to $288 Wednesday, a 31% gain since the beginning of May alone.
The driving force behind Wednesday's rally was a potent combination of momentum buying and good, old-fashioned salesmanship from a leading Wall Street firm when Credit Suisse First Boston boosted its price target on Google to $350 from $275.
Up-and-coming:
Less than 10 months after going public, Google is the fifth-most-valuable company on the Nasdaq Stock Market.
Company
Market value (in billions)
Microsoft $279
Intel $169
Cisco $125
Dell $99
Google $80
Source: USA TODAY research..."
Comments:
Post a Comment
