Moscow. November 16. Shares Of Google Inc. on Friday rose in price by 16.3% to a record $699,62, the company’s capitalization per session increased by $66,9 billion, which is the highest one-day rise ever recorded on wall street, according to MarketWatch.
According to FactSet, at market close on 13 November, the capitalization of Google was $478 billion.
The increase in the market value of Google in one session was a record for wall street, surpassing the previous races capitalization of Apple Inc. and Cisco Systems.
The market value of Apple on April 25 2012 soared for one day at $46 billion, Cisco has increased its capitalization to $66,1 billion on April 17, 2000.
At least five brokerage firms – JPMorgan, Bernstein Research, Nomura Research, Jefferies and Evercore, are expecting further growth in the price of Google shares.
These brokers have improved target price of Google shares over the next 12 months to $800 after the company released statements for the third quarter of 2015.
Profits and revenues of the parent holding company Google Inc. – Alphabet Inc., created in August of this year, exceeded market expectations in the third quarter of 2015, the company also announced the launch of its share repurchase programme valued in excess of $5 billion.
When the stock price at $800 Google market cap will be around $547 billion Thus, Google will become the second company besides Apple, with a market value above $500 billion.
For comparison: Apple’s market capitalization currently stands at $740 billion.