SAN FRANCISCO — Google’s stock price topped $800 for the first time Tuesday amid renewed confidence in the company’s ability to reap higher profits from its dominance of Internet search and prominence in the mobile market.
The milestone comes more than five years after Google’s shares initially hit $700. Not long after breaking that barrier in October 2007, the economy collapsed and Google’s stock tumbled into a prolonged malaise that led to a change in leadership.
Besides enriching Google’s employees and other shareholders, the resurgent stock is an implicit endorsement of co-founder Larry Page, who replaced his managerial mentor, Eric Schmidt, as CEO in April 2011. Google’s stock has risen by 36 percent since then.
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