Google's parent company Alphabet has joined the prestigious $1,000 a share club. Monday saw the California-based company’s Class-A shares crossing the $1,000 per share threshold and climbing as much as 1.13 per cent to $1,007.4. The news comes just six days after US e-commerce biggie Amazon accomplished the same milestone.

For one's keeping a close tab on Alphabet, they must have noticed that the tech giant's shares have surged by a quarter since the start of 2017.

Surging pass the $1,000 a share marker is considered a momentous achievement as it is doesn't happen quite often. The only prime example is, Berkshire Hathaway, whose Class-A shares are currently trading at about a quarter million a pop.

Apart from Alphabet, there is only one other stock on the S&P 500 index that has a stock price in the quadruple digits. With a $687 billion market value, Alphabet is said to be second only to Apple.

Alphabet's stock success can be attributed largely to its continued dominance in the search engine market with Google search, and the ad revenue that comes along with it. Some of other initiatives that are working out well for the company includes Waymo, its driverless car company, and connected device marker, Nest.

In addition to all this, YouTube and Android are also making good money for the company, despite the predictions made that YouTube would end up losing about $750 million-$1 billion of projected profit after its ad controversy earlier in the year when brands decided to arrange a boycott against Google over ads on extremist videos.

But, one needs to understand that share price alone is not considered as a significant barometer to measure a company's success since there have been times that companies have tried manipulating their stock price by changing their share count through so-called splits.

According to business experts, Market capitalisation, which measures the total value of a company’s equity, is a better barometer than stock price. With a market cap of $802bn, Apple acquires the top spot and is followed by Alphabet at second place and Amazon at third place with $687bn and $481bn, respectively.

[Top Image: Yahoo Finance]

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