Shares of Google jumped to a new high of $559.99 on Friday, a surge which comes on the heels of a few positive analyst reports and news Thursday that co-founders Sergey Brin and Larry Page landed on the top 10 list of Forbes" richest Americans, tied at No. 5, each with a net worth of $18.5 billion. On Thursday, Robert Peck, the Bear Stearns analyst wrote a report on how Google plans to reach $100 billion in revenue, a goal that Hewlett-Packard expects to achieve just this fiscal year.
Although Peck did not give a time frame for Google to reach the $100 billion goal, he hosted a conference call with another consultant on Thursday and they outlined six important focus areas for Google: searches on mobile devices, online video, publishing, business software applications, its e-payment system that rivals PayPal, and multimedia advertising. According to Peck, reaching the $100 billion goal in revenues will require the search engine giant to meet several challenges, "but stopping the Google juggernaut is not going to be an easy task" for its competitors.