Berkshire Hathaway, at $175,000 per share, would have set that record long ago, except the S&P has some fairly arbitrary rules that exclude it. Point being, stock price means nothing.
Inflation has more to do than with overt quantitative easing. Also, share price has no direct correlation to overall valuation; you have to throw in the number of shares and multiply.
"Priceline.com became the first company listed in the S&P 500 to trade at $1,000 in the index’s 56-year history."
http://blogs.wsj.com/moneybeat/2013/09/18/on-a-day-of-record...