Google Inc. (NASDAQ:GOOGL)’s run, since its debut on the market on August 19, 2004, has been a remarkable one, shunning competition from its rivals such as Microsoft Corporation (NASDAQ:MSFT) and Yahoo! Inc. (NASDAQ:YHOO), along the way. Its growth is clearly shown by its stock price which has surged by almost 1,000%, according to Jim Cramer on CNBC; having gone public at $42.50 a share and currently closing in on the $600 mark. Cramer believes the impressive run shown by Google has been underestimated by people, including the professionals in the industry.
“From the very beginning, there has been an amazing failure of imagination when it comes to visualizing what Google Inc. (NASDAQ:GOOGL) can do and how much money it can make both for its company and for you,” said Mr. Cramer.
Cramer compared Google Inc. (NASDAQ:GOOGL) to the oil and gas shale production in the U.S, which was initially underestimated’ and thought not to have a unique value to cause a revolution in the energy sector. Productions in the shale regions have essentially exceeded expectation just as Google has done over the past ten years at the back of massive acquisition as well as operation diversification.
During the initial days of Google’s IPO, many analysts and investors thought Google Inc. (NASDAQ:GOOGL)’s market share was a mere fraction without any sustainable avenues for growth. Things have incredibly changed over the past decade. Google is not only a giant search engine Company, but a force to reckon with in the smartphone space through its unique Android OS.
YouTube has on the other end set positioned Google as the biggest company in terms of the provision of Videos online. Google Inc. (NASDAQ:GOOGL)’s success in the industry has come at the expense of Yahoo! Inc. (NASDAQ:YHOO) and Microsoft Corporation (NASDAQ:MSFT), which many analysts during the company’s early days thought had a better chance of success.
“Many viewed the company as immature in its actions in part because its executive were so young, but also because it’s IPO was done without the help of major brokers, in auctionable things. Google Inc. (NASDAQ:GOOGL) lacked Wall Street backing because of that rebellious streak which continue to this very day,” said Mr. Cramer.
Google Inc. (NASDAQ:GOOGL)’s executives have come of age, positioning the company as one of the all-time greats through the hiring of some of the best and innovative brains in the tech industry. Google, according Cramer, crushed Yahoo! Inc. (NASDAQ:YHOO) and Microsoft Corporation (NASDAQ:MSFT) in the search space and navigated the smartphone space faster than anybody ever thought.
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