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Google Stock Price Rises Above $1,000

The stock price of the Google Internet search engine reached $1,000 for the first time on Friday, as investors bet the firm will continue to dominate the mobile and video advertising business.

The price rose after the company reported better than expected earnings for the third quarter.

Google is the world's largest search company and advertisers pay to put their sales pitches near search results and other high traffic areas.

Much of the activity on the Internet is shifting from computers to mobile devices such as smart phones. Video traffic is also growing strongly and Google has crafted new techniques to reflect both of these changes.

Google first offered its stock to the public in 2004 at $85 a share.

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