Google had a topsy-turvy week at the stock market. Its share price went down by almost 12 percent. Also the expensive Nexus 6’s price tag caused the company to face a little heat from the market and its consumers. Nexus 6 starting price in the UK would be 499 pounds for the 32 GB phone while the 64 GB will be as high as 549 pounds. This means that with its Nexus 6 Google Inc. (NASDAQ:GOOG) will cater to the high-end users only, leaving out the masses, which were expecting more. Google with its latest release will come in direct war with Apple in the phablet market.
Such a high price for Nexus 6 may not be such a smart move by Google. In Asia, especially China and India, users are inclined towards small-end phones and those who don’t mind spending money consider Apple or Samsung the right status symbol. By entering the high end market, Google might risk losing its mass market, which could prove to be a great source of revenue generation for the company.
In other news, Google calmed things down with the publisher in a rift over copyright fees. Axel Springer stood up to Google initially, forbidding Google from taking news snippets from its website. But considering the fact that these websites already benefit from Google’s search engine, Axel Springer was forced to remain quite. The German publisher simply wasn’t large enough to face Google’s stature.
Let’s see how Google performed at the stock market last week;
Google started trading on Monday at 563.53; by midday the stock price went up to 567.15. Later in the day it dropped down to 561.63. At the conclusion of the day Google recovered a bit, signing off at 563.77.
The next day, Tuesday, Google resumed trading at 561.16 and instantly rose to 564.79. Later on in the day the drop came, taking Google down to 558.30. But the conclusion of the day brought good recovering, shooting the price up to 564.19.
Wednesday, Google started trading at 566.47. Improvement was subtle as stock went up to 566.90. Later in the day a massive drop forced Google to slide down to 554.15. Recovery didn’t do any good to the stock; Google closed the day at 555.95.
Thursday, Google resumed from where it left the previous day and started trading at 555.50. It rose up, though minutely, to 556.80. Share price took a toll later in the day, dropping to 550.58. Google didn’t get any major recovery from the fall, closing down at 551.69.
On Friday, Google opened the stock market, trading at 555.60. No improvements were recorded during the day and at the closing of the day Google had dropped down to 551.82.
Next few weeks could be seen as crucial for the company because Google is moving in on the high-end smartphone market, to challenge Apple and Samsung. But the move can backfire something that Google wouldn’t want of course. As far as share price is concerned, it’s robust but Google Inc. (NASDAQ:GOOGL) has witnessed a couple of rough weeks. There’s still room for improvement and growth.
