As the wider stock markets fell following memorial day weekend, shares of tech giant Amazon nudged upward roughly a quarter of a percentage point to the much awaited valuation of $1,000 per share.
The all-time high also pushed Amazon’s valuation to $477.3 billion in trading Tuesday.
Amazon’s reach to $1,000 also meant that the company beat out shares of Alphabet, Google’s parent company, to the throne. Shares of Google and Amazon have been neck-in-neck in recent days, as investors continue buying into both companies — a sign that market watchers at least believe in both tech giants’ futures.
But, while Amazon briefly breached $1,000 early Tuesday, Alphabet shares have reached as high as $997 a piece.
That’s put Amazon in the same club as Priceline Group — the only other company on the S&P 500 to boast a quadruple digit stock price. Priceline shares were trading at about $1,857 as of Tuesday.
Still, share price alone is not a great marker for the value of a company. In that field, Alphabet’s $682 billion market cap is a head above that of Amazon’s, and Priceline’s $91 billion, putting Alphabet much closer than Amazon in the race to $1 trillion.
And aside from Priceline, Amazon also has another giant in the field of stock prices it can reach for.
Over the past year, shares of Amazon have risen 40%. It would have to keep up that same performance for another 615 years to reach the lofty valuation of Class A shares of Warren Buffett’s Berkshire Hathaway, now trading at $247,025 a piece. Granted, Berkshire Hathaway has never split its stock.