Google (NASDAQ:GOOGL) is officially valued at $1 trillion U.S.
Alphabet Inc., the parent of search engine giant Google, saw its stock price reach a record high this week, pushing the company’s valuation above $1 trillion U.S. for the first time. Alphabet now joins Apple Inc. (NASDAQ:AAPL), Microsoft Corp (NASDAQ:MSFT). and Amazon.com Inc. (NASDAQ:AMZN) in an elite club of technology giants that have reached the trillion-dollar mark.
In August 2018, Apple became the first tech giant to see its market cap top $1 trillion U.S. Amazon briefly touched that level in September 2018, while Microsoft crossed the trillion-dollar mark last April.
Alphabet’s shares have been steadily rising since June 2019, benefiting from upbeat Wall Street forecasts and healthy investor appetite for tech stocks. The company’s market capitalization has increased nearly $300 billion U.S. in the past seven months, thanks to a roughly 40% surge in its stock.
Google is a dominant force in the online advertising business and advertising revenue is expected to fuel Alphabet’s upcoming earnings. Analysts polled by Bloomberg estimate the company, which reports results on February 3, will generate more than $38 billion U.S. in fourth-quarter revenue. That would boost full-year revenue to more than $154 billion U.S., representing an annual increase of nearly 13%.
Alphabet began 2020 with some major management changes. Google co-founders Larry Page and Sergey Brin recently announced they would step down from their executive roles at Alphabet, placing Google Chief Executive Officer Sundar Pichai in charge of both Alphabet and Google.
