NEW YORK – Alphabet's stock is surpassing the $1,000 mark for the first time, less than a week after Amazon reached the same milestone.
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Internet search leader Alphabet 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 its long-term investors.
Shares of Alphabet Inc., based in Mountain View, California, gained $6.05 to $1,002.17 in morning trading.