Oct. 18 - Google shares touch an all-time high above $1,000 one day after the company reports a surge in mobile and video advertising. Conway G. Gittens reports.
▲ Hide Transcript
▶ View Transcript
Google shares touching an all-time high above $1,000 after the search engine giant reported a surge in mobile and video advertising.
At least 16 brokerages raised their price targets on the stock to between $880 and $1,220, with Deutsche Bank bumping up its target price by 26 percent.
So what's behind all the goo-goo over Google? The Internet giant's paid clicks increased by a quarter in the three months ended September 30, that's the highest growth rate in the past year.
Analysts say that solid gain in paid clicks is a good indicator of demand, driven by the continued shift to mobile.
And the secret behind Google's success is YouTube.
YouTube branded video ads surged, with a hefty amount of traffic coming from mobile.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code