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.
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