Google shares hit record $700 on phone rumours

Google shares hit $700 for the first time today, as more rumours circulated about the company’s plans to lauch its own mobile phone.

Although the rumours have been flying around the internet for months about the possibility of a Google phone, today’s interest was fuelled by an announcement in the Wallstreet Journal that Google were in talks with U.S network providers, Verizon and Sprint about launching handsets which would run a Google operating system.

The shares reached $701.40 in early trading on Wall Street, putting the company’s value at just just under $219bn (£106bn). Shares fell back to $699.50 shortly after.