Google is among the top 5 companies whose annual performance on the stock market has shored up performance of the S&P 500 during 2015. The internet giants have had a good year registering returns of 39.46% to date. The other 4 strong performing stocks for 2015 have been retail giants, Amazon, Microsoft, Facebook, and General Electric.
Google’s performance is somewhat surprising considering the stock’s declining performance especially in the last quarter of 2014. The year 2014 was a rocky year for the tech giants especially given the fact that the stock price declined by as much 15% between February 2014 and December of that year.
At the same time, some experts had predicted a positive outlook for Google for 2015. The positive outlooks were based on factors such as the fact the Google is a cash king, similar to Microsoft and Apple. In addition, analysts believed that Google could have made its combat through growth by innovation as well as growth by acquisition. Furthermore, Google’s mobile dominance put it in a strong position to monetize its market share and to therefore shore up its 2014 performance.
It seems the analysts were right on the money because today Google is riding high once again in the stock market. Google parent company, Alphabet, registered gains of 2.4% at the end of trading on Friday November 20, 2105. Analysts are now recommending a “buy” for Google stocks and have established a target stock price of $849.2 and a median target prediction of $850.00. At the end of trading on Friday November 20, 2015, Google stock was trading at $756.60. Parent company Alphabet is now currently engaged in battle with Amazon and Microsoft for the cloud computing market.