Our penchant for knowledge and curiosity has helped make Google’s parent company Alphabet worth one trillion dollars.
They are the fourth American company to break this barrier, after Apple, Microsoft and Amazon.
While the state-run oil company Saudi Aramco is worth 2 trillion.
A trillion dollars is a million dollars multiplied by a million.
To be specific, Google’s parent company Alphabet’s stock market value is now 1 trillion dollars.
This just six weeks after founders Larry Page and Sergei Brin gave up their top jobs and handed over the reins to Google Chief Executive Sundar Pichai.
Image: Google CEO Sundar Pichai
This change has worked on Wall Street. Last quarter, the company’s profits were lesser than market estimates by nearly 2 billion dollars.
But that did little to dent investors’ bullishness on the company.
Alphabet’s stock retreated briefly, only to resume its climb.
The stock surged up by nearly 17 per cent over the last three months, better than fellow tech giants and the rest of the market.
For the calendar year 2019, Alphabet’s stock was up nearly 35 per cent.
Watch: Google’s parent company enters Trillion Dollar Club
And now as 2020 begins, some are already wondering whether it’s time to cash in on the extraordinary gains.
But a lot will depend on Alphabet’s fourth-quarter earnings report which is scheduled to release early in February.
With this feat, Alphabet has become only the fourth company in American history to reach the magical figure.
Apple, Amazon, and Microsoft are the only other US companies.
And among those, Amazon saw its market value hit the trillion-dollar mark, and soon fall below it.
Shares of the company are down nearly 7 per cent over the last six months.
So the trillion dollar achievement is in essence, a slippery slope.
Image: Google logo | AFP
Apple is currently the world’s most valuable company with a market cap of $1.4 trillion, while Microsoft is valued at $1.3 trillion.
And now Google aka Alphabet has joined the club.
However, Google has stiff competition, not from tech companies, but from the world’s largest oil company: Saudi Aramco. Aramco became the world’s first two trillion dollar company last month.
That too within 48 hours of becoming a listed company on the Saudi Stock Exchange.
Source: Thanks WIONews.com