Tech stocks: Google shares top $1,000

Google stock has crossed a historic milestone: $1,000.

Shares of the tech titan soared more than 13%, topping the $1,000 mark after reporting third-quarter results late Thursday that topped Wall Street forecasts.

Google becomes the fourth company trading on a major exchange to have a stock price of $1,000 or more. Warren Buffett's Berkshire Hathaway remains the king of the high per-share stock price at $175,286. That's followed by pork processor Seaboard and its $2,797.86 share price. Name-your-own price retailer Priceline is the newest addition to the $1,000-a share-club at $1,032.15.

Google's revenue grew 12% to $14.89 billion, while generating profit of $10.74 per share. Analysts had expected earnings per share of $10.34 off $14.8 billion in revenue.

Investors believe the company's Enhanced Campaigns, a new advertising system launched last summer, will fuel growth and adapt well to a world where consumers are shifting more toward smartphones and tablets.

Meanwhile, shares of AMD plunged 9% after revealing its fourth quarter sales may fall short of estimates off weaker PC demand.

Bloomberg reports the company raked in $48 million in profit for the third quarter, along with a 15% boost in sales. However, the company predicts $1.49 billion in revenue for the fourth quarter. Analysts were estimating revenue of $1.52 billion.

AMD is heavily invested in the next wave of video game consoles, having built processors for Sony's PlayStation 4, Microsoft's Xbox One and Nintendo's Wii U.


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