Shares in the search engine giant Google rose past $700 yesterday, a rise of more than $100 in less than one month.
Much of the performance is based on investors' enthusiasm for Google's expansion into the mobile wireless market. This will make it possible for Google to deliver advertisements to people's mobile devices, which could prove extremely lucrative.
Scott Kessler, an analyst at Standard & Poor's, told the International Herald Tribune: "One of the reasons that Google has been such a success story is not only because it has taken market share from its competitors, but also to some extent it has created new opportunities and new markets." Now Google's stock is up among the rarefied atmosphere of the top five companies in the US, including Warren Buffet's Berkshire Hathaway.
Google's founders, Sergey Brin and Larry Page both now have an estimated fortune of $20 billion each.
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