Wednesday, October 19, 2016
Everyone loves Google's new phone, and the stock has hit an all-time high
It's shaping up to be a good week for Google's parent company, Alphabet.
Following a bunch of glowing reviews for Google's first smartphone, the Pixel, Alphabet's stock reached all-time highs Tuesday, reaching up to $801 per share.
The Pixel, which is available this week, is just the first device of a slew of new hardware products from Google. In a few weeks, it'll release the Google Home connected speaker, a new router called Google Wifi, and a new version of the Chromecast that works with 4K TVs.
It's still too early to judge whether Google's new emphasis on hardware can match the scale of companies like Apple and Samsung. It'll be years before that happens. But the company is off to a good start.
Before Google announced the hardware, some analysts predicted the stock would go all the way to $1,000.
Alphabet reports earnings on October 27.