The California-based Google is already an Internet powerhouse, and it is only gaining ground, the research firm noted. Google is benefiting from new initiates as well as its core services. In the research note, analyst Ken Sena said, "Google is gaining traction across new products and services as its core platform, including Search, seems to just get stronger."
Sena argued Google has seen positive results through its non-core initiatives. Google Fiber, a project to build a broadband network using fiber-optic technology, has proven the company's ability to penetrate new industries. "While Google Fiber is just one small non-core initiative, it does demonstrate the company's ability to drive disruption into established industries while leveraging existing investments in infrastructure," Sena wrote in the report.
Shares of Google were higher in Friday trading, up .52% to $881.60.--Written by David Webster in New York >Contact by Email. Follow @thedavidwebster
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV