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Google, like many technology firms, has been faced with internet users shifting from desktop and laptop terminals to mobile devices and smartphones. At the moment the company still comfortably holds the largest share of search engine users and, as only a handful of companies before it, enjoys the status of its name now being a verb. This dominance is even more exaggerated in the mobile sphere where it holds around 90% of the market share.
The technology giant’s other anticipated area of improving revenue is the company’s YouTube holding, as the continuous and growing popularity of the video-sharing platform offers a stable stream of improving advertisement revenue.
Google has also recently acquired Titan Aerospace, a maker of drones, with the aim of using solar-powered pilotless planes to provide internet coverage in some of the more remote regions of the planet. Although the exact amount spent on this has not been disclosed, it is certainly one of the company’s more adventurous projects on the go.
Shares have been in decline since the beginning of March, with prices dropping by 14.5% from their year highs. Of course, the shares have still risen from $321.20 in January 2012 up to Monday’s close of $532.50 – an impressive 65% rise.
The last three trading days have seen buyers tempted back in at the $520 level. Obviously much of what will happen next will hinge on the company being able to meet the market’s 6.374 EPS target for Q1 2014, which would be a steady improvement from 6.128 for Q4 2013 and 5.341 for Q1 2013.