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Alphabet Shares Follow in Amazon's Footsteps and Top $1,000

  • Shares of Google parent pass marker six days after Amazon.com
  • Company has been on a tear after restructuring in August 2015
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Tech Shares Drive Stocks to Record Highs

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Shares of Google parent Alphabet Inc. passed $1,000 six days after Amazon.com Inc. crossed the same threshold, showing the sustained investor confidence that tech giants can outmatch older companies.

Amazon’s rise reflected a bullishness in e-commerce, coming despite bigger sales in brick-and-mortar retail. Likewise, Alphabet shareholders see that TV ad budgets will continue to gravitate online, where Google dominates.