Reply #11: Google Shares Top $500 for 1st Time [View All]

[54anickel]

http://biz.yahoo.com/ap/061121/google_stock.html?.v=10

Google's Stock Price Rises Past $500 for 1st Time; Shares Up Nearly 2 Percent in Morning Trade


SAN FRANCISCO (AP) -- Google Inc.'s stock price surpassed $500 for the first time Tuesday, marking another milestone in a rapid rise that has catapulted the Internet search leader into the corporate elite.

Continuing a recent surge driven by Wall Street's high expectations for the company, Google's shares rose $9.67, or nearly 2 percent, to $504.72 in morning trading on the Nasdaq Stock Market.

That left Google with a market value of about $154 billion just eight years after former Stanford University graduate students Larry Page and Sergey Brin started the business in a Silicon Valley garage.

The Mountain View-based company is now Silicon Valley's most valuable business, eclipsing the likes of Intel Corp., the world's largest computer chip maker, and Hewlett-Packard Co., a high-tech pioneer that also famously started in a garage 67 years ago.

snip>

It took slightly more than a year for Google's shares to travel from $400 to $500 -- the stock's longest journey from one major milestone to the next since the company priced its initial public offering at $85 in August 2004.

more...