Google stock tops $900 amid prospect of news at annual conference
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Google’s stock price climbed above $900 a share for the first time as Wall Street waited to hear what the company will announce later Wednesday at its annual developers conference.
The stock opened Wednesday at $895.75 and continued climbing. At last check it was trading at $907.35, up $20.25, or 2.3%, from Tuesday’s close.
The company’s shares hit the $900 mark despite CEO Larry Page disclosing Tuesday that he has had trouble speaking because of a vocal cord ailment. In a post on the company’s social network Google+, Page said he remained fully capable of running the company.
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Google executives are scheduled to address the developers conference, known as Google I/O, in San Francisco. The address is scheduled to last three hours, and that may be because Google is expected to announce a number of new services and products. Among the rumored announcements are a redesigned Google Maps, a new messaging service, a music service similar to Spotify and the second generation of the Nexus 7 tablet.
At last year’s conference, Google announced a new version of its Android mobile operating system; the first version of the Nexus 7, and the Nexus Q, a product the company ended up delaying and has never released. Google also began selling Glass, its computing eyewear, to developers for $1,500.
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