Google Hits $1,000: Here’s Who’s Getting Rich
Google (NASDAQ:GOOG) bulls have existed for as long as the brand has. The Internet services firm, founded in 1998 by Sergey Brin and Larry Page, hit public markets in 2004, and has pretty much made investors wealthier ever since. Shares debuted at $85 a pop, and just more than nine years later hit an intraday high of $1,007.40.
As the world’s leading search engine and one of the largest advertising platforms on the planet, Google has experienced tremendous growth over the past few years. Carlos Kirjner of Bernstein Research predicted in February that Google would hit $1,000 this year — which at the time would require 29 percent growth over a 52-week period, immediately following a 52-week period of 29 percent growth — but the company exceeded even that lofty expectation.
Shares catapulted to the psychologically significant level following the firm’s strong third-quarter earnings report.