Alphabet Targets $2 Trillion Market Valuation

Share post:

Alphabet shares soared more than 8% after the company reported record quarterly sales that beat expectations.

This pushed the company to soon reach a market valuation of $2 trillion, and the company’s stock market value peaked at just over $2 trillion after trading began, according to the trading session.

With just over $2 trillion, Alphabet is in a league with Apple and Microsoft, the companies with more than $2 trillion in market capitalization.

Despite legal battles over privacy and antitrust concerns, Alphabet has seen steady valuation growth over the past two years.

Responding to Alphabet’s growth, Russ Mould, investment director at AJ Bell, said: “The technology sector started 2022 with some of the biggest question marks over it since the dotcom crash more than two decades ago. However, the largest and highest quality U.S. tech names continue to deliver the answers the market wants with big earnings beats.”

Alphabet also announced a 20-to-1 stock split, giving shareholders 19 shares for every share they hold.

For more information, read the original story in Reuters.

Featured Tech Jobs


Related articles

China approves Broadcom-VMWare merger, last hurdle is cleared

The long-anticipated merger between Broadcom and virtualization giant VMware has been approved by Chinese regulatory authorities, marking the...

Elon Musk’s X sues Media Matters over report linking ads to extremist content

Elon Musk's X has initiated legal action against the progressive watchdog group Media Matters, in response to an...

OpenAI aggressively pursues Google AI talent with offers up to $10 million

In a bold move to bolster its AI expertise, OpenAI is reportedly offering lucrative compensation packages, potentially worth...

Booths axes self-scan machines for human cashiers

Supermarket chain, Booths is axing almost all of its self-scan machines in favor of human cashiers. The company,...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways