Google’s Market Cap Hits $400 Billion for First Time

Google’s stock hit another all-time high Tuesday of $1,191, pushing the company’s market cap above $400 billion for the first time in its history.

The stock increase comes less than two weeks after Google released its fourth quarter earnings report and announced plans to move forward with a long-delayed stock split

Google recently overtook ExxonMobil’s market cap to become the second most valuable company. It is about $80 billion behind Apple, one of its chief competitors and the most valuable company in the world.

The company’s stock hit $1,000 for the first time in October, driven by a strong third-quarter earnings report and investor optimism for Google’s ad revenue growth and efforts to innovate in various product categories. Read more…

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