Google hit the $1,000 a share mark on Friday, less than a day after reporting strong fiscal third-quarter earnings.
The search turned cloud and mobile giant opened up 91 points, or 10 percent, on the New York Stock Exchange, when the opening bell struck at 9:30 am ET.
However, in spite of the nice rounded four-digit figure, it doesn't mean all too much for the company. Companies are valued (in a rough sense) by its market capitalization figure.
At the time of writing, Google's market cap stood at $334 billion. By comparison, even though Apple is currently trading at $508 a share, its market cap is significantly higher at $462 billion.
On Thursday, Google reported.
The internet giant reported a net income of $2.97 billion, or $6.53 a share. Despite the drop in advertising prices, Google's results were offset by a larger proportion of ad-clickers.
Over the past ten years, Google's stock has risen by almost ten-times fromof $100 a share.