Google shares broke through the $700 (£350) barrier for the first time today, fuelled by speculation that the company will soon launch its own mobile phone. The shares reached $701.40 (£350.07) in early trading on Wall Street, valuing Google at just under $219 billion (£106 billion), before falling back to $699.50 (£349.75).
Shares in Google have risen 725% since it floated just over three years ago. Rumours have circulated for months that the search giant is planning to launch its own mobile phone. Earlier today, the Wall Street Journal reported that it was in advanced talks with two mobile phone companies, Verizon and Sprint, about selling handsets that would run an operating system designed by Google. (source: CNN Money)