The streaming service will offer unlimited access to every song in the vast Google music library. It will be available through the company’s app store for Android devices, Google Play. It was anticipation about this news, and general ebullience about Google, that powered the stock above $900 a share for the first time ever on Wednesday.
Google, in fact, has moved up more than $250 a share in the past six months, even as Apple stock has tumbled by a roughly equal amount. (As I write, Apple is down 4 percent on Wednesday at $426.14.)
True, Apple is still more valuable than Google ($400 billion versus $300 billion). But Google seems on a path that could take it to $1,000 a share in relatively short order. It’s the big gorilla in search, its Android phones are the world’s biggest sellers, its YouTube unit is synonymous with video streaming, and now its muscling into music.
Wednesday night on NBR, we will discuss Google, with a report from its news-making developers’ conference, and debate whether GOOG is the one stock to own if you could only own one. See you tonight.