– Google gets to 100 billion Market Cap!

Last updated on: October 24, 2005 at 1:26 pm by Desh Kapoor

– Google gets to 100 billion Market Cap! 2005-10-24T13:26:47-05:00 Desh Kapoor

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Google, the champion of tomorrows technology stocks has gotten to a new record for itself! 100 billion now.

Google Inc.’s market value briefly surpassed $100 billion for the first time Friday, its stock scaling new heights after an earnings and revenue spike that astonished investors.

The online search leader’s shares traded as high as $346.43 on the Nasdaq Stock Market before backtracking as the day progressed. The shares had gained $36.16, or 11.9 percent, as their price eased to $339.36 in late afternoon trading.

After the slight retreat, Google’s market value stood at $98 billion after just seven years in business. That was nearly $20 billion above the market value of Hewlett Packard Co. – a Silicon Valley pioneer founded 66 years ago.

Google’s shares have nearly quadrupled since their initial public offering at $85 just over 14 months ago – a stretch that has been marked by stunning financial growth and a steady stream of new products designed to lure even more traffic to a search engine that seems to spit out profits as efficiently as it does answers.

The innovation, combined with media consumption habits that are shifting more advertising to the Web, paid off in a big way during the third quarter.

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