Tomahawk, WI 08/20/2014 (Basicsmedia) – The saying ‘time flies’ is a true replica of the heights that Google Inc. (NASDAQ:GOOG) has climbed since it held its IPO ten years ago. After holding its IPO on August 19, 2004 at $42.50 a share, the company has been able to maintain a consistent rally consequently beating the overall market performance and is now more than ever, close to clocking the $600 mark. Google has registered an exponential growth over the years blowing past its one-time main competitors in the name of Yahoo! Inc. (NASDAQ:YHOO) and Microsoft Corporation (NASDAQ:MSFT) according to Mad Money Host on CNBC Jim Cramer.
“Google Inc. (NASDAQ:GOOG) has had a remarkable run, one that has far exceeded the performance of the overall stock market and I think it is fair to say that this rally has been consistently and remarkably underestimated by so many people including thousands of investment professions pretty much the entire way up,” said Mr. Cramer.
Ten years ago, very few people would have projected that the company could climb the heights it has been able to reach over the past years. From the beginning, there had always been suspicions on the amount success and money that the company would be able to generate in the long term. During its initial days of the IPO, Google Inc. (NASDAQ:GOOG) was marred by weak buys, sells and hold positions in the industry as many investors continued to air out their skepticism about the company’s future
“[…] Analysts showed the levels of skepticism about Google that was in retrospect both ridiculous and yes obtuse. They almost believed that the market for Google was so much smaller than it turned out to be, they placed heavy bets against Google in favor of Yahoo and Microsoft Corporation (NASDAQ:MSFT) dramatically overstepping the power of competition,” said Mr. Cramer.
Google growth in the industry has come at the back of massive acquisitions that the company has made with the notable one being the acquisition of giant video platform YouTube. Diversification of its operations instead of focusing on its search engine core business has also worked to its advantage.
Google Inc. (NASDAQ:GOOG) is now more than ever if not the best the biggest company in terms of advertising in the internet, a section that it continues to rely heavily for its earnings. The launch of the Android OS has also allowed it to expand its operations into the smartphone space that continues to grow rapidly. The company’s next big thing is its self-driven cars that it has promised to bring into the market and sure to take it to another new high level.
Google Inc. (NASDAQ:GOOG) success according to Cramer can be attributed to the fact that it has always relied on the leadership of some of the brightest brains you can ever find in the tech industry. The company has also been poaching some of the best brains across its fields of operations that continue to accelerate the development of innovative products and services