SAN FRANCISCO - Google Inc.’s stock price barreled through $700 for the first time Wednesday, propelled by a belief that the Internet search leader will become even more profitable as it plants its products and services in new markets.

The Mountain View-based company’s shares traded as high as $704.79 before falling back to $700.04 in afternoon trading, up $5.27 for the session. It took less than a month for the stock to leap from $600 to $700, building upon a fervor that has lifted Google’s market value by more than 30 percent since mid-September.

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