Alphabet’s stock is surpassing the $1,000 mark for the first time, less than a week after Amazon reached the same milestone.
Google’s corporate parent and online retail juggernaut Amazon are part of a small group of stocks belonging to companies that have shunned stock splits.
Those splits make the stock more affordable and generate brokerage fees. But companies like Amazon and Alphabet have chosen to reward their long-term investors.
Shares of Alphabet, based in Mountain View, Calif., gained $6.05 to $1,002.17 in morning trading.