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Google Takes Top Spot From Time Warner
newfoundry writes "BBC News reports that Google hit $80bn on the NYSE yesterday, so is now worth more than Time Warner..."
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Internet search phenomenon Google has overtaken a swathe of venerable rivals to become the world's biggest media company by stock market value.
I wasn't aware that 80bn in market capitol was the "Top Spot".
Another misleading headline...
Top 10 Reasons To Procrastinate
10.
Allow me to rephrase: Some people think it's worth more than Time Warner.
"It's the height of ridiculousness to say for those 9 lines you get hundreds of millions."
Microsoft's market cap is about 275 billion, so Google still has a long, long way to go.
It's worth pointing out that Google is traded on the NASDAQ, not the NYSE. A bit different.
Just to clarify the incorrect information in the article posted, Google (GOOG) is traded on the NASDAQ market, not the NYSE.
Um, actually as another posted pointed out - TW's physical assets are $45 billion, while Google's are worth $3 billion. So actually, those DVDs, projectors, recorders, archiving equipment, broadcasting equipment, and everything else that Time Warner has does add up.
Color me stupid, but I don't get it.
I'm wondering why you have a +5 Informative.
The NASDAQ is an Index
the NYSE is an Exchange
Completely different things, GOOGLE is listed on the NASDAQ and traded on the NYSE.
Google's stock price will go down.
Bah!
The only reason this is a "top spot" is because, unlike many of the top media and technology companies, they are traded on NYSE instead of NASDAQ.
If they were a NASDAQ company, would anybody think that "Google stock now worth slightly more than Time/Warner stock" counts as news?
Sorry kids, they are still a smaller company than the eeeeeeevil one over in Redmond that manufactures full-screen error messages.
Information wants to be anthropomorphized.
Thank you. I was wondering the same thing. These people are thinking of Dow Jones, the other big index.
-JD-
Your math isn't right. Google's projected earnings this year is between $6 and $7, not $2.50.
NASDAQ is both. It's a "virtual" electronic exchange...no trading floor, no men in suits running around, but plenty of shares changing hands.
It's also an index of prices of the companies listed on it.
I heard this argument about ebay too, back when it's P/E was somewhere around 2000 (yes that's right, 2000). Take a look at ebay's stock graph and note that they never really went down. When everyone else was busting, ebay mostly stayed the same. And had you bought ebay at the height of the dotcom boom, and held it til today, you'd be quite happy.
Now, I'm not saying that google isn't overvalued right now, but if they can sustain their income growth, they still might just be a good buy. Considering I spend more time looking at google ads than just about any other media channel, it's a good bet that they can continue to grow.
Google didn't just start out with scads of money and thousands of employees. They started out with two students, an algorithm, a couple servers, and a free webservice. That *is* a small company.
They've since grown into a mammoth company with huge server farms, thousands of employees, and the biggest valuation of any media company. That's my point: they went from extremely small nobodies, to bigger than the giant blue-chip corporate conglomerate, and they did so very quickly.
The Rise and Fall of Online Community
1) 100 years ago: little indoor plumbing, widespread legal racial and religious discrimination
2) There was plenty of corporate lobbying and donations to government officials 100 years ago. The 1906 Pure Food and Drug Act was mainly the work of food producer Henry Heinz, for example.
1902 to 1912, often referred to as the muckraking decade, saw the publication of more than a thousand articles providing detailed accounts of the economic and political corruption caused by big business, especially the trusts.
3) Standard Oil never came close to cornering the market, by the time the antitrust case against it was filed in 1906, it had hundreds of competitors. Standard Oil oversaw a dramatic reduction in oil prices. It was convicted because of a general anti-business animus stoked by socialist intellectuals and journalists such as Henry Demarest Lloyd and Ida Tarbell and urged on by the company's higher-cost and higher-priced rivals. As a result the most efficient industrial organization of the time was crippled, weakening competition and pushing prices up.
AT&T was broken up into pseudo-monopoly ILECs, wow, thanks.
I can run Linux or OSX, don't need Microsoft. Who cares?
4) Western Union vs. Bell Telephone on telephone patents? 1878 Patent disputes between big corporations are old news. Of course, copyright extension is another matter.
Nothing is really all that new over the last 100 years...now go back 200 years, before the widespread legalization of joint-stock corporations...