The stock price of Alphabet Inc Class A (the owner of Google) (GOOGL) has down by over $7.62 today till the late morning trading session; which is about 0.95% lower than yesterday’s close. The stock closed at $835.74 on Monday.
The California based company is an American multinational conglomerate founded on October 2, 2015, by the two founders of Google, Larry Page and Sergey Brin, with Page serving as CEO and Brin as President. It is the parent company of Google and several other companies previously owned by them. The company is based in Mountain View, California, at Googleplex. The reorganization of Google into Alphabet was completed on October 2, 2015. Alphabet’s portfolio encompasses several industries, including technology, life sciences, investment capital, and research. Some of its subsidiaries include Google, Calico, GV, Google Capital, Verily, X, and Google Fiber. Some of the subsidiaries of Alphabet have altered their names since leaving Google—Google Ventures becoming GV, Google Life Sciences becoming Verily and Google X becoming just X. Following the restructuring Page became CEO of Alphabet while Sundar Pichai took his position as CEO of Google.
This fall comes after Google’s stock set a new all-time high on Monday, coming off a week of strong reviews for its new Pixel phone and ahead of its Q3 earnings later this week. Google parent company Alphabet’s stock rose about 2% in mid-day trading on Monday to $813 per share, surpassing last week’s all-time high of $801 per share. After announcing its new Pixel phone in early October, reviews of the device landed last week. Later that same day, Google stock soared following mostly glowing reviews of the new phone.
Meanwhile, Google has introduced Jamboard, a modern spin on an old-school tool: the whiteboard. The 55-inch 4K touch screen is the first hardware product in Google’s re-branded G Suite of cloud-based tools—you know, things like Gmail, Google Drive, and Google Docs. Those tools make long-distance collaboration easy online, but that can break down once everyone is in the same room. People have to agree which tool to use, and trying to sort it all out hampers spontaneity.
“We thought that might somehow limit creativity,” says Jonathan Rochelle, director of product for G Suite. “It made it so that when people wanted to be creative and collaborative, they can’t do the same thing at the same time. That bothered us, because the reason you’re in a meeting is to collaborate.” The big-screen Jamboard session is essentially replicated on the tablet: You can add things, rearrange them, and pull in images or maps from a side menu. The interactions are limited on a phone, but you see everything on the board in real time, and you can add text or create digital sticky notes.
Our analysts have given a “HOLD” rating to Google’s stock. The stock has been trading at a high price and is expected to be that way. Although it shows great potential, however due to the fluctuation, this is not the stock where you want to go all in on.