Bidness Etc - Merrill Lynch Analysts Believe Google Stock To Stay Strong For Long Term

The search engine giant is believed to stay strong on the stock in the future by analysts at investment back Merill Lynch.

According to the most recent Google news, it has been seen that the tech giant has been rated with a ‘buy’ on its shares along with a massive target on the shares resting at $650 by the analysts at Merill Lynch. This reiteration was carried out by the analysts after the significant I/O developer’s conference that was reportedly held on May 29 by the search engine giants.

The firm has notably released a new version of the operating software that it was previously offering its users. The new OS which has been named as Android M is scheduled to be launched by the second half of 2015. Moreover, the tech giant software company was also seen to introduce new update features of Google Play and Google Photos. Along with that, the firm discussed the whole idea and carrying out of Internet of Things at the conference.

Keeping all the recent activities of Google finance in mind, one would believe that the fact Merill Lynch analysts have granted such a rating to the stock of search engine giant firm is due to the innovations that are being brought on the surface by the firm but the analysts have announced that the recent updates on their analysis have nothing to do with what the tech giant carried out a week back. However, the Internet of Things platform seems to portray a positive near-term future for the firm because of which the analysts have emerged to be bullish about the company.

It is also to be believed by the equity firm that since the past few quarters, Google has managed to improve on a massive scale on the Internet of Things platform which has become more and more dominant on the company’s bright future. The investment bank has analysts who are also taking Google Play in consideration and believe that this will take the firm to new successful heights that are very much needed at this time where competition is constantly on the rise. Google Play has been proving as it is a feature that makes the Android phones stand quite differently than the other phones of its kind.

On the other hand, the fact that Google’s expenditures have been increasing at a very quick pace is helping the analysts believe that in the near future, this might help the company gain advantage over other companies that are not spending as much as it is on their expenditures. The tech giant has also released a date for the launch of the much awaited Nexus devices that the firm reportedly has been working on.