Google Back at $500 a Share
by John Paczkowski
Posted on September 22, 2009 at 12:02 PM PT
“I’d be very surprised if Google did not hit $500 by the end of the year.” Citigroup analyst Mark Mahaney said that just last week, and as it happens he has already been proven right. Earlier today, Google (GOOG) saw its shares cross the $500 threshold, setting a new 52-week high. Google topped out at $501.99, before slipping back to $498 or so.
Now, $500 a share isn’t in the same stratospheric price range at which Google’s stock once traded–certainly it’s not the $707 and $713 it reached in 2007. But it’s a psychological milestone nonetheless, and that’s worth noting because Google’s shares have risen more than 50 percent over the past six months, and Wall Street seems to be growing increasingly more positive on the stock.
Sadly, the same cannot be said for Yahoo (YHOO), which hasn’t elicited the same sort of response. But then why should it? As Yahoo CEO Carol Bartz said earlier today, “Yahoo and Google are different companies. They are in different businesses….They aren’t us and we aren’t them.”
Clearly. Yahoo shares are trading at what, $16?
