Google is on a roll. Yesterday, the company announced strong quarterly earnings, and today its stock soared past the $1000 mark for the first time in the company’s history. Wall Street must be happy with what Google reported in its earnings for such a jump to occur.
It’s been a good year for Google stockholders, with Google’s stock rising 26% at the end of the trading day on Thursday. The stock has sat squarely in the $900 range for the past few months, but a 13% jump today pushed it over the $1,000 barrier. It is only the second S&P 500 stock to cross $1,000 this year. Priceline was the first when it broke $1,000 over the summer. In recent history, only a handful of stocks have passed this $1,000 milestone. These other $1,000+ stocks include Priceline, Seaboard and Berkshire Hathaway.
Google’s market cap now sits comfortably in the $330 billion range, putting it right behind competitor Apple. It pole vaulted well ahead of other rival Microsoft, which has a market cap of about $290 billion.