Google Now Worth More Than Microsoft
Google has become the second wealthiest tech firm in the world after its shares increased by almost one per cent, taking its market capitalisation to £154.1bn ($249.1bn).
The rise nudged Microsoft into third place, with a market worth of £152.9bn ($247.2bn). But both companies remain far behind Apple, which is worth an astonishing £382bn ($618bn).
Google's stock has climbed steadily since June when each share was worth £345 ($559). Monday's rise pushed the price to just under £472 ($762).
The shares also got a boost last week from a Citigroup note advising investors Google's stock price could "rise significantly in the 12 months ahead."
But the company has also profited from Internet growth areas such as its Android mobile operating system and revenue streams from YouTube.
Global Equities Research (GER) said both Google and Apple have "strong momentum" in the mobile Internet sector while "developer interest in Windows Phone is almost non-existent."
GER added that Google's "innovation velocity" far exceeds that of any other company. It recently launched a 'virtual diving' addition to its street view mapping service.
Enthusiasm for Microsoft has remained lukewarm despite its upcoming launch of the Windows 8 operating system and a push into the tablet and phone markets.