Google Inc (NASDAQ:GOOG)’s stock has just hit a new record high. Shares passed the $800 mark for the first time since the company went public. The stock has been growing steadily for the past month, and it’s the first major milestone for the company in five years, when it passed $700 per share. The stock then fell as the global recession took hold, before finally passing $700 per share in September, the first time in almost five years.
Google Inc (NASDAQ:GOOG)’s continued success with its Android phones certainly make it a contender to replace Apple Inc. (NASDAQ:AAPL) in the good graces of investors. While Apple Inc. (NASDAQ:AAPL)’s stock has been sagging recently, dropping below $500 per share after its record high of just over $700 per share, Google’s stock has hit $700 per share and kept right on going.
Also Google Inc (NASDAQ:GOOG) has unveiled numerous projects that are in the works, including everything from Google Glass, which is expected out this year, to self-driving cars. Meanwhile Apple Inc. (NASDAQ:AAPL) has yet to reveal anything especially new and innovative.
One major event of note in Google’s recent history is the 2011 replacement of Eric Schmidt as CEO by co-founder Larry Page. Since that changeover, shares of Google Inc (NASDAQ:GOOG) have increased approximately 35 percent.
Last year Google Inc (NASDAQ:GOOG) unveiled a plan to split its shares, which would cut the price of the stock. However that plan has been put on hold pending the result of a lawsuit that was filed by shareholders who say a stock split would give too much power to Page and Sergey Brin, Google’s other co-founder. Together, Page and Brin are the company’s two biggest shareholders. The trial for the shareholder lawsuit is scheduled to begin in June.