US Stock Movement | Google Rises Nearly 4%, Market Value Exceeds $3 Trillion
On Monday, Google rose nearly 4%, closing at $250.23, setting a new all-time high, with a market capitalization surpassing $3 trillion. In terms of news, with the explosive popularity of Google's Nano Banana image generation model, downloads of Google Gemini in the U.S. App Store have exceeded those of ChatGPT, becoming the number one app on the free charts. Citigroup analyst Ron Josey raised Google's target price from $225 to $280, citing that "with the accelerated adoption of Gemini in advertising and cloud services, faster product development cycles are emerging." Josey added that all of this is happening in "what we believe is a relatively healthy online advertising market, while the company has gained clearer visibility on legal and regulatory challenges." Analysts stated, "We believe Google is executing better on its product matrix, with stronger demand and improving profitability."
According to Zhitong Finance APP, on Monday, Google (GOOGL.US) rose nearly 4%, closing at $250.23, setting a new historical high, with a market value surpassing $3 trillion. On the news front, as Google's Nano Banana image generation model gained immense popularity, downloads of Google Gemini in the US App Store have exceeded ChatGPT, becoming the number one app on the free charts.
Citigroup analyst Ron Josey raised Google's target price from $225 to $280, citing "a faster product development cycle as Gemini's adoption in advertising and cloud services accelerates." Josey added that this is happening in "what we believe is a relatively healthy online advertising market, while the company has gained clearer visibility on legal and regulatory challenges." Analysts stated, "We believe Google is executing better on its product matrix, with stronger demand and improving profitability."
