By Dawn Kawamoto
Thursday, November 01 2007 11:13 AM
URL: http://www.zdnetasia.com/news/internet/0,39044908,62034036,00.htm

Google's shares kissed the US$700 mark in early morning trading Wednesday, marking a new first for the Internet giant and its soaring stock price.

Google's stock rose to more than US$701 a share, following reports that it is pitching its "Gphone" to Verizon Wireless. The stock was up US$4.95, or less than 1 percent, in morning trading, from its close of US$694.77 on Tuesday.

Just a little more than three weeks ago, Google shares passed the US$600 mark and analysts were speculating its shares could climb as high as US$700 within the next year. Apparently, it's been a quick year.

For Google, its ride on Wall Street has been a blast since it debuted in 2004 at US$85 a share. The share price has risen alongside its market share in search, as it has leaped ahead of archrival Yahoo on a number of fronts.

With Google hitting the US$700 mark within weeks of its previous milestone, Wall Street soothsayers may soon be setting the bar at $800 a share. And who knows--Google may have something extra to be thankful for by T-Day.

This article appeared as a blog on ZDNet Asia's sister site CNET News.com.