Google continues to dominate Silicon Valley – Surpasses Cisco and IBM as the 2nd most valuable technology company!
Google now has a market cap of around $145 billion. The only technology company with a higher market cap is Microsoft at $282.5 billion. Googleâ€™s market cap soared after it announced surprisingly strong third-quarter financial results last week. Googleâ€™s profits soared past analyst expectations by nearly doubling.
Yahoo on the other hand saw a 38% drop in profits primarily due to slowing ad sales and problems rolling out its own contextual ad network. According to comScore, Google held 45% of the online USA search market in September as opposed to Yahooâ€™s 28%. Yahooâ€™s share of the online search marketÂ is steadily dipping.
Googleâ€™s phenomenal growth is something very few technology companies see. Its surprising how fast Google blew past some of the oldest and most respectable technology companies around.
As you can see, Google continues to dominate Silicon Valley and eat small competitors alive. But everything good comes to an end. And eventually, some new startup will wow millions of Internet users and become the next Google.