Google stock is trading at all-time highs ahead of earnings this week

Larry PageChris Hondros/Getty ImagesAlphabet CEO Larry Page.

Google’s stock set a new all-time high on Monday, coming off a week of strong reviews for its new Pixel phone and ahead of its Q3 earnings later this week.

Google parent company Alphabet’s stock rose about 2% in mid-day trading on Monday to $813 per share, surpassing last week’s all-time high of $801 per share.

After announcing its new Pixel phone in early October, reviews of the device landed last week. Later that same day, Google stock soared following mostly glowing reviews of the new phone.

But the new phone isn’t the only thing likely buoying the company’s stock.

Google is also launching several new hardware products in the coming weeks: the Google Home connected speaker, Google Wifi, and a new Chromecast device.

Plus, US stocks rallied on Monday morning after several major deals were announced, including the announcement that AT&T is buying Time Warner for $85 billion.

And analysts are expecting strong results when Google announces its earnings on Thursday. Analysts predict
revenue of $22.05 billion and adjusted earnings of $8.64 per share, up from $18.7 billion and $7.35 per share respectively last quarter.

Prior to the Oct. 4 hardware event, analysts were predicting Google’s stock could soon reach $1,000 per share.

NOW WATCH: Here’s why the time is always 9:41 in Apple product photos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.