Tech Rally
A couple days ago, Google hit a milestone and joined the $1000 club in the stock market, resulting in an increased market value of the company at around $40 billion. The company now has a market cap of $336.8 billion. The popular tech company released their earnings report that beat analysts' expectations. Most of the boost came from Google's 23% net revenue increase in their internet business. Such a positive announcement by Google created a rally in the technology industry, prompting rises in stock prices for other companies such as Samsung, Amazon, and even Qihu.
Still, Google's Motorola division is still causing them a massive headache. With continuing record-breaking losses, Motorola is making Google regret its acquisition.
Where do you see the technology industry going? Is the tech rally driven by momentum?
The problem with Motorola is it is too large to gut, which is exactly what they need to do.
you mean a market cap of $338bn, a jump of $40bn?
Nice catch! thanks for the note
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