Alphabet, Google’s parent company has hit $1 trillion for the first time, making it the fourth US firm to reach the massive valuation. According to Wall Street-listed shares, Alphabet passed $1 trillion in the last minutes of trading on Thursday night, with stocks closing at $1,450.16 each.
In 2018, Apple was first to hit the market cap milestone, which was followed by Microsft and Amazon. Amazon has fallen, but Apple and Microsoft have still valued more than a trillion dollars. The company expects similar growth in the year ahead as it continues pouring extensive resources and also includes tripling its sales force and boosting its Google Cloud Health segment.
Alphabet can be a $2 trillion company in the near future and is a compelling opportunity for long-term investorsChristopher Rossbach, the CIO of J. Stern & Co.
Shares of Alphabet rose nearly 1% after Bank Of America raised its price target on Alphabet’s stock in January. The stocks dropped 7.5% in April 2010 after reporting slowing advertising numbers. The company also faced many cultural clashes.
With roughly $620 billion valuation Facebook also appear to be the next likely trillion dollar company.