Google Share Price: As you probably already know, Google Inc (NASDAQ:GOOG) shares passed $800 a couple days ago. You can read more about this story here. While this has been discussed time and time again, Bernstein Research analyst Carlos Kirjner is adding a little more fuel to the fire.
It appears that Kirjner believes Google will beat Apple to the $1,000 mark. While the company still has a long way to go, there are definite reasons to believe that this could happen.
Kirjner recently released a research note, with some of the main points published by Forbes.com. Here is what he had to say:
“We believe mass adoption of smart phones, tablets and the mobile Web is a large value creation opportunity for Google.”
But he didn’t stop there. Instead, he took the time to discuss the future of Google Inc (NASDAQ:GOOG) and why he sees big things on the horizon.
“In other words, we disagree with the most popular Google bear case, which posits that mobile is bad for revenue growth and profitability. We also think YouTube is still an underappreciated asset. In our opinion, the emergence of the mobile Web, connecting billions of consumers everywhere, all the time to the Web will be a strong net positive for Google. We believe mobility, together with continued innovation in search such as new formats and better targeting, will support growth of search revenues in the double digits for several years to come. We also believe YouTube is already a multi-billion dollar business, growing fast and with healthy operating margins, whose growth potential is not fully reflected in consensus.”
Kirjner has increased his target on the stock from $820 to $1,000. While there is no way of saying for sure when Google Inc (NASDAQ:GOOG) will reach this mark, many are beginning to agree that it will beat Apple to the punch.
Yesterday was not a good day on Wall Street for the search giant. Shares fell $14.39, or 1.8%, to $792.46.
Do you agree with what Kirjner has to say about Google or do you have other thoughts?
Check back here for more updates on Google Share Price.
DISCLOSURE: I have no positions in any stock mentioned.
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