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Google share price surpasses $800 milestone

Google's stock prices broke the $800 (£527) barrier for the first time on Monday, marking a 36 per cent rise since CEO Larry Page took over in April 2011.

The Mountain View, California-based firm touched the milestone more than five years after its shares initially hit the $700 (£460) mark, after which its stock succumbed to the downturn caused by the global economic meltdown.

Despite the fact that Google was able to withstand the Great Recession better than many other IT firms, the rate of the company's revenue growth slowed down.

The majority of the company's gains have come within the past seven months, during which rival Apple's stock prices dropped sharply. However, experts believe that the significance of the company surpassing the $800 milestone is merely symbolic.

"There are probably even going to be people talking whether Google's stock can get to $1,000 [£660]," said Standard & Poor's Capital IQ analyst Scott Kessler.

"Never underestimate the excitement that can be caused by a rising stock market and a rising security," Kessler added.

Image Credit: Flickr (dahlstroms)