San Francisco, November 9: Sundar Pichai-run Alphabet, Google’s parent company, has finally breached the coveted $2 trillion market cap milestone. The tech giant’s market cap briefly crossed the $2 trillion mark late on Monday, closing at $2,987.03 per share. Alphabet’s market cap has doubled from $1 trillion since January 2020.
Alphabet now joins Apple and Microsoft who are already part of the $2 trillion club in the US. Alphabet, the parent company of Google, posted an all-time record revenue of $61.9 billion for the July-September quarter, along with record profits at $18.9 billion. It said late last month that with respect to foreign exchange impact on reported revenues, it expects virtually no impact in Q4 in contrast to a 1.5 per cent tailwind in Q3 and 4 per cent in its Q2. Apple hit the mark in April last year, while Microsoft reached the $2 trillion mark in June this year. Amazon is also nearing the $2 trillion mark. Amazon Becomes Second US Company After Apple To Hit $1 Trillion Market Value.
Microsoft is now worth a smidge more than Apple, making the Satya Nadella-led cloud software giant the world’s most valuable company. Both companies are worth about $2.5 trillion. Tesla, Elon Musk’s electric car giant, recently passed the $1 trillion mark and has since surged to a market cap of about $1.25 trillion. These five companies are now collectively worth almost $10 trillion. That’s nearly a quarter of the combined $41.8 trillion market cap of the entire S&P 500, reports CNN.
(The above story first appeared on Morning Tidings on Nov 09, 2021 10:35 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website morningtidings.com).
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