Google’s stock price came close to its 52-week high on the first day of Google I/O today, hitting $915 per share at close. In comparison, Apple today dropped 15 points to close at $428 per share, 277 points off its 52-week high.
This morning, Google stock jumped to $909 per share from its opening price of $895 when Co-Founder Larry Page hit the stage at around 11:45. It is now trading at $916.50 in after-hours trading. One analyst I talked to attributed the increase to Google’s announcement of its “all access” streaming service and the rotation out of hardware makers such as Apple and HP.
The difference between Google and Apple’s share price is a barometer of the tech landscape. Google is a data company. Apple is more about design, creating beautiful devices.
The difference is evident here at Google I/O. Google has built its infrastructure to manage more data than arguably any company in the world. It uses ths data to provide services that it highlighted today in its keynote. This includes its Google Translate APIs and the next generation of its Google Maps. The iPhone will always be elegant. As my colleague Josh Constine points out, the beauty of a device is just not as important, as the entire world becomes a fabric of data objects.