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Agreed.

Surprised to see so many financially-minded people fail to understand how the market cap is a better indicator value, not individual stock price.

Granted, this is still a great feat for $GOOG, and it appears they will continue to innovate and sustain such growth.

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I think it's a second-order, behavior-finance oriented line of thinking. I know that stock price is basically arbitrary and market cap is a much better measure of value. (And arguably, earnings and growth rate are even better than market cap.) However, I also know that many people consider $1000/share to be an important psychological milestone, and that it will command news headlines when the stock makes it. And so, understanding that the stock market is to some extent a beauty contest and other peoples' perception of a stock's momentum influences the stock price, it's rational for me to believe that when it hits $1000 it will go up, at least in the short term. It's also rational for me to feed into and cheerlead that perspective, because as a Google shareholder, I benefit when other people believe Google stock is going up.

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