Alphabet joins Amazon with stocks trading over $1000

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Alphabet stocks began trading at just over $1,000 today
Image: Lennihan/ AP/ REX/ Shutterstock

What could you buy with $1,000? A new MacBook? A pair of Louboutins? How about one share of Alphabet stock?

Alphabet, Google’s parent company, intersected a major threshold Monday by extending $1,000 per share, simply six days after Amazon reached the same milestone.

It’s nothing to sneeze at; simply one other stock on the S& P 500 index( Priceline) has a inventory price in the quadruple digits. Alphabet’s stock price has been surging this year, and the company’s market value, about $680 billion, is second to Apple.

So, why is Alphabet’s stock suffering such a boom? The success is due in big portion to the continued dominance of Google’s search engine( plainly ), and the ad revenue that comes with it. Alphabet’s other wagers, including driverless auto corporation Waymo and connected device marker Nest, are also suffering an uptick in profits.

Android and YouTube are also starting to pull in more capital for the company as well, despite predictions that YouTube would lose anywhere from $750 million to$ 1 billion of projected profit after its ad dispute earlier this year.

Looks like investors didn’t have much to worry about after all.

Congrats Alphabet! Welcome to the club.

Read more: http :// mashable.com /

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