NEW YORK (CNN/Money) - Shares of Internet search giant Google eclipsed $400 Thursday, reaching as high as $403.49 in morning trade on Nasdaq.

The company conducted an initial public offering in August 2004, with shares going for $85 through an uncommon Dutch auction.

Google now has a market value of $116.6 billion -- higher than long-established tech firms such as Yahoo, Dell and Hewlett-Packard. (Full story)

The company has a price-to-earnings ratio of 89.1, practically unheard-of in the technology sector -- and well above competitor Yahoo's 37.69.

___________________

For all the latest headlines in Tech, click here.