Shares in Google have hit an all-time high of $749.38, as investors continue to bet on good times for the search giant.
Google's stock prices surpass a previous high from 2007 of $747.24 a share. The rise marks a quick jump for the company as it just surpassed $700 a share earlier this month. Google's surge has some Wall Street commentators thinking the company can rise even higher.
The search giant opened up on Wall Street in 2004. On its first day as a publicly-traded stock Google closed at $100.33 a share and a market cap of $27.2bn. Today, the company's market cap stands at $245.07bn and, according to a note to investors from Citi Group, may still be growing.
The Wall Street Journal reports that a note to investors from Citi analyst Mark Mahaney suggests that Google shares could reach as high as $850 a share within the next 12 months.
Mahaney's note reportedly says that the decreased liability from Google's Motorola Mobility purchase and a less competitive search market spell good things for Google.
"Frankly, we believe that the possibility of someone generating a truly competitive search offering to Google has gotten remoter with each passing year," Mahaney reportedly said in his note to investors.
Apple shares also recently passed the $700 mark. The company's good fortunes came on the heels of the release of the iPhone 5 earlier this month.
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