GOOG Stock: Is Google a $1,000 Stock?

Could Send Google Stock Soaring“Internet of Things” Could Send Google Stock Soaring

Tech conglomerate Alphabet Inc (NASDAQ:GOOG), formerly Google, is aiming for world domination, making well-calculated moves in the world of technology. In doing so, Google is also making efforts to make the world a better place to live. Inarguably, GOOG stock is poised to gain from the company’s fast-growing public goodwill and provides a great investment opportunity for all, especially the socially responsible investors.

Alphabet has recently signed six new deals to step up its capacity of renewable energy powering its data centers, marking its biggest-ever stride towards going green. Currently, 37% of Google’s total energy usage comes from renewable energy. Giants like Microsoft Corporation and Apple Inc. have also been making pledges lately towards green energy. (Source: “Google’s Latest Renewable Energy Investment Is Its Biggest Ever,” Fortune, December 3, 2015.)

Investing in environmentally sustainable and green companies, alternatively called socially responsible investing (SRI), is not a new concept. It is believed that of every $9.00 of funds invested in the U.S., $1.00 is a socially responsible investment. (Source: “Socially Responsible Investing: What You Need To Know,” Forbes, April 24, 2013.)

If that reason only satisfies your conscience but not your investment acumen, take note that this company is also on its way to creating the biggest network of the “Internet of Things,” or IoT for short.

Google Will Dominate with IoT

Google is developing and acquiring new technologies in an effort to connect everything to Google’s platform. This machine-to-machine ecosystem is being touted as the biggest evolution in technology, whereby everything will become interconnected. This includes our handheld devices, household appliances, entertainment devices, security systems, automobiles, and more. Whatever you can think of, you’ll likely find that Google is already getting its hands dirty to deliver it to the world.

In an effort to shed its search engine image, the company has not only changed its name, but it has also shifted its strategy. Google has pioneered software solutions, while also tapping into hardware, introducing its own smartphones and tablets (the “Nexus” series), set-top TV boxes and sticks (its “Chromecast” products), virtual reality products (which includes “Google Glass,” “Google Cardboard,” and “Google Lens”), home security systems (“Google Nest”), and various services like the “Google Cloud” platform, its payments platform (“Google Wallet”), its artificial intelligence assistant (“Google Now”), and, of course, its dominant operating system (“Android”).

Additionally, two big projects expected to be huge winners for the company in the next two years are its drone delivery project and its driverless car project. With the former, the company will be able to bolster its position in e-commerce, taking on the likes of, Inc. and other e-retailers to provide product delivery services on its “Google Shopping” platform. With the latter, the company will be able to power virtually every car of the future with its next-generation technology, claiming a dominant share in the automotive industry.

The Bottom Line on Google Stock

Google is one of the best-performing and fastest-growing companies of this decade. The tech giant is one of the four strongest growth plays on the market, dubbed the “FANGs” (Facebook, Amazon, Netflix, and Google). The stock has rallied more than 45% this year alone and has been making new highs every month.

With the breadth of its product portfolio and the depth of penetration it has already achieved in the global market, a $1,000 target price for GOOG stock wouldn’t be too optimistic.

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