GOOGLE ( GOOG) sets all time highs
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GOOG today touched 774.65 setting an all time high since the company started as an ignored IPO back in 2004 or so. The highs came amid a stellar earnings report last week and the stock has taken the lead as the new Tech leader replacing all time darling AAPL. The strong fundamentals combined with new acquisitions, and a substantial cash on the balance sheet, and market share in the market share in smart phones has propelled the stock price to new highs.
The company has been competing with AAPL on the smart phone market front and has lot more to deliver. Meanwhile AAPL under the leadership of Tim Cook has suffered in stock price humiliations as reflected in the latest earnings report which tanked the stock to the 450 levels and it cannot even rebound from such lows. The stock is now basing here for the last one week and may go higher at some point. But the market leadership is quite clear. AAPL is no longer the leader and GOOG has replaced it in the Tech sector.
For now enjoy the long trades but caution is needed as the stock may pull back a little after making new highs.
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