Google stock hits all-time high

Google's stock hit an all-time high of $748.90 early Monday, topping the previous record set in November 2007.

Shares of Google (GOOG) have rallied a stunning 15% this year, as the company continues to dominate in search and makes strides with its Android mobile platform. Just last month, research firm IDC reported that Google's Android had gained a whopping 68% share of the global smartphone market during the second quarter. That's four times the 17% market share held by Apple (AAPL).

Despite the run-up, Google continues to trade at a fairly reasonable value. Shares are trading 18 times 2012 earnings forecasts, and 15 times 2013 earnings forecast.

Plus, Wall Street thinks the stock still has more room to run. Citigroup analyst Mark Mahaney reiterated his Buy rating late Sunday, and raised his price target on Google's stock to $850 a share from $740.

Read Full Article from CNNMoney

- Posted: 2012-09-24 14:49:48

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