Google’s parent, Alphabet Inc, valued at more than $1 trillion
5 years, 2 months ago

Google’s parent, Alphabet Inc, valued at more than $1 trillion

Al Jazeera  

Alphabet Inc. hit a milestone on Thursday, as a rally in the stock took it above a $1 trillion valuation for the first time, solidifying the dominance of technology and internet stocks as the biggest titans of Wall Street. Globally, the list is topped by Saudi Aramco, Saudi Arabia’s national oil company, which went public last month and currently has a market cap of about $1.8 trillion. Amazon.com Inc. flirted with the level last year, but the e-commerce company would have to rise more than 7% for its current valuation of $931.1 billion to return above $1 trillion. Among recent commentary, Evercore ISI raised its price target on the stock to $1,600 from $1,350, writing that it expects the company will continue “to compound on its defensible dominance in Search and video advertising with YouTube.” Earlier this week, Deutsche Bank raised its own target to a Street-high view of $1,735, writing that the stock “trades too cheaply.” The firm cited more ad product launches, an expanded stock buyback program, and “improving competitiveness in the Cloud business.”

History of this topic

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5 years, 1 month ago
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5 years, 2 months ago

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