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NEW YORK (AP) - High-flying Internet company Google Inc. and 11 other companies were added Monday to the Nasdaq 100, the Nasdaq Stock Market's index of the 100 largest non-financial companies listed on the market.
The Nasdaq 100 is a widely used benchmark for a variety of mutual funds and exchange-traded funds. The Nasdaq 100 Index Tracking Stock, better known as the QQQ, is one of the most popular index-linked stocks in the world and is a component of hundreds of mutual funds and pension funds. The trust that runs QQQ has more than $20 billion under management.
Google, which went public in August 2004 and now has a market capitalization of $128.3 billion, was widely expected to join the Nasdaq 100 after seeing its stock price more than quadruple over the past 16 months.
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