Google’s week at the stock market was largely defined by its launch of multitude of products which came as a big surprise. As an answer to the Apple’s iPad launch,Google Inc. (NASDAQ:GOOG) unleashed its Nexus army on its users. Nexus army contains an HTC Nexus 9 phablet, a Motorola Nexus 6 smartphone and a Nexus Player for your living room (or wherever you keep your television).
The HTC Nexus 9 tablet is capable enough to be a competitor of the newly released mighty iPad air 2. So the next few weeks will be interesting in terms of tablet sales.
Google’s Nexus 6, launched from the platform of Motorola is considered a rival of Apple’s iconic iPhone 6. It has all the chops, and perhaps will come with a lower price. The best thing about these devices is that they are powered by the latest Android Lollipop. This will also be a battle of softwares – Lollipop vs iOS 8.
Google’ didn’t have the best week; it announced its third quarter results and a few figures missed the estimates including revenue and earnings. The internet giant’s 89% of the total revenue came from its advertising. Earnings per Share was reported to be $6.35 whereas the estimates were $6.52. Total revenue pocketed by Google was $13.17 billion after paying off the revenue shares of its partners; the estimated revenue that should have been kept by Google was $13.2 billion. The stock took a dip by 2% after these third quarter results were announced.
Google Inc. started its week on 13th October and kicked off the morning session at 555.13 and went up by 5 percent to 560.88. Later on in the day it suffered a loss and dropped down to 544.43. Google concluded its day at 544.75.
The company started its trading session on Tuesday at 550.14 and rose up to 558.63. The mid day loss pushed it back to the numbers of the previous day- 544.50. By the end of the day the stock value improved and closed at 548.69.
The third day, Wednesday, the market opened up with Google at 542.08. A 1 percent gain elevated it a bit to 543.92. The stock again went down to 528.42. End of the day brought some good news as Google recovered back to 540.73.
Thursday, Google opened up at 527.00 and rose up to 540.99 during midday. Later on Google suffered a loss and dropped down to 524.95 but respite came at the closing of day, leaving Google at 536.92.
Last day of the week, Friday, Google started to trade at 540.45 and improved a bit to 543.45. The week’s worst hit came and left Google at 518.41. At the closing of the week, Google was at 522.97.
It will be interesting to see how Google Inc. (NASDAQ:GOOGL) devices will be received by users who currently have lots of options when it comes to smartphones and tablets. Two of the biggest names are head to head in the market along with Samsung with its latest smartphones. It seems Google will hold its own among its many competitors, but we will have to wait and see.