As crazy as it sounds to some, many believe that Google Inc (NASDAQ:GOOG) stock is heading for $1,000. There used to be a time not long ago when everybody thought that Apple Inc. (NASDAQ:AAPL) would beat the search engine giant to this market. However, things have changed quite a bit over the past few months as Apple stock has dipped and Google has surged.
Google is one of the hedge fund industry's most popular stock picks, and it's always important to pay attention to the smart money (see just why here).
For more information on this story, let’s take a closer look at what Carlos Kirjner of Bernstein Research said Tuesday on CNBC:
"No. 1, we think mobile is good for Google. It has been a key tenet of the bear case, but if you think about it, you have today 1 billion people connected to the web. Because of mobile, you are on path to have 3 to 4 billion people connected all the time, everywhere, driving more transactions, more commerce, and because of that, more search and more advertising."
Kirjner also went on to talk highly about how Google Inc (NASDAQ:GOOG) has proved its ability to manage expenses.
Along the way, Kirjner took the time to talk about the company’s Android platform as it relates to the competition, more specifically Apple and Microsoft.
“We think the main objective of Android is to ensure a competitive and innovative handset market. Just do the following thought experiment: Think of the world without Android. It would be probably a smartphone monopoly, which would create a bottleneck”
If you have not yet done so, take the time to visit the video on CNBC and watch it in its entirety. Kirjner shares a lot of insight on Google Inc (NASDAQ:GOOG), including its push towards $1,000.
What do you think? Will Google hit this milestone at some point in the future?
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