Google’s parent company, Alphabet, hit the $1 trillion market capitalization on Thursday. With this milestone, Alphabet has become the fourth $1 trillion club member after Apple, Amazon, and Microsoft.
The tech giant Apple hit the trillion-dollar market cap mark in August 2018, the first US company at that time to do so. However, a few months after, in November, Apple lost its position which it regained in September 2019 after the launch of iPhone 11 series. Followed by Apple, Amazon was the second company to hit the trillion-dollar mark in September 2018 followed by Microsoft which did in April 2019.
The news comes as a cool breeze for the company, which has been facing some backlash from employees after firing four employees in November, including Rebecca Rivers. Before that, Google workers had arranged a walkout in San Francisco.
Google was also in the spotlight after it acquired medical data of millions of patients without their permission in the UK a few months back.
Last year, the company also narrowly missed the third-quarter estimates by analysists. On the other hand, Alphabet’s rival Apple had one of its best years at the stock market in a decade, with its stocks soared by a staggering 89% in 2019. Alphabet will report its fourth-quarter and full-year 2019 earnings on Feb 3.
According to CNBC, with a roughly $620 billion valuation, the next likely trillion-dollar tech contender appears to Facebook. Wall Street analysts are expecting $46.9 billion in revenue.
Sundar Pichai of Google, the new CEO of trillion-dollar Alphabet
In December 2019, the CEO of Google Sundar Pichai took over as CEO of Alphabet as well after founder Larry Page announced to step down. Pichai made Alphabet’s chief legal officer David Drummond forced to leave the company in January amid sexual harassment investigations. Under Pichai, Alphabet shares are off to a kickass start this year, with more than 8% already soared in 2020.
The company, Alphabet, has now hit its all-time high market value. It is also the first time that, along with Apple and Microsoft, three companies in the US are worth over one trillion dollars at the same time. The fourth company, Amazon, is now valued at $930 billion.
Most Valuable Company in the World
Right now, Alphabet, Apple, and Microsoft are the most valuable companies in the US. But Saudi Aramco is the most valuable company in the world.
Saudi Aramco went public last month at a valuation of $2 trillion. The oil company raised $25.6 billion through the world’s biggest IPO in early December, selling 3 billion of its shares priced at approx $8.5 each. The first company in the world that hit a $1 trillion market cap was PetroChina in 2007, considered overvalued by many analysts.
Featured image: STR/AFP via Getty