On Friday, Alphabet Inc (NASDAQ:GOOGL) stock gained 0.35% and closed at $771.97, after the firm Google inspired Raspberry Pi’s $5 computer
According to the detailed report, A chance encounter with Alphabet Inc.’s Google chairman Eric Schmidt in January 2013 led the head of a British nonprofit that makes bare-necessities computers to ditch his plans for a more expensive version of its popular $35 computer, the Raspberry Pi. The Cambridge, U.K.-based Raspberry Pi Foundation had received a $1 million grant from Google to distribute 15,000 units of the build-it-yourself, programmable Raspberry Pi computers to schoolchildren, according to WSJ
At an event announcing the donation—Schmidt happened to be in the U.K. at the time—the Google chairman wanted to know what the foundation was working on next.
“I told him we were thinking of making future Raspberry Pi’s a little bit more expensive, up at about $50 or $60, and a bit more powerful,” Eben Upton, the foundation’s founder, told The Wall Street Journal in an interview.
Mr. Schmidt, says Mr. Upton, said that was the wrong thing to do, and told the foundation’s founder he should aim for as low cost a computer as possible. WSJ added
“He said it was very hard to compete with cheap. He made a very compelling case. It was a life-changing conversation,” Mr. Upton said, adding that he went back to the lab and scrapped all the engineering plans for more expensive versions of future Pi computers. “The idea was to make a more powerful thing at the same price, and then make a cheaper thing with the same power.”
In the starting of 2015, the foundation started shipping its new, more powerful Raspberry Pi 2 computer, for the same $35 price as the Pi 1. WSJ Report
Alphabet Inc (GOOGL) is a collection of Companies.
The Company’s collection comprise Calico, Google’s health and longevity effort; Nest its connected home business; Fiber, its gigabit internet arm; and its investment divisions such as Google Ventures and Google Capital, and incubator projects, such as Google X.
These will be managed separately in Alphabet.
On October 2, 2015, Google implemented a holding company reorganization following the Agreement and Plan of Merger (the Merger Agreement), dated as of October 2, 2015, among Google, Alphabet and Maple Technologies Inc., a Delaware corporation (Merger Sub), which resulted in Alphabet owning all of the outstanding capital stock of Google.
Short-Term Price Target Review:
The stock closed its last trade at $771.97. The market capitalization for the company is reported at $521.75B.
Looking at other metrics of the stock, we find that the mean estimate for the short-term price target for the firm stands at $845.13. The higher price target for GOOGLis $950.00, while the lower price target is $705.00. In the past 52 weeks, the company shares have gain 41.41% and marked new high $782.90 on Nov 23, 2015.
Analysts mean recommendation for the stock is 1.70. This number is based on a 1 to 5 scale where 1 indicates a Strong Buy recommendation while 5 represents a Strong Sell.
