Alphabet, the parent company of Google, on Thursday became the fourth US company with a market capitalization of 1 trillion dollar, a milestone previously only achieved by Apple, Amazon and Microsoft.
The shares of the tech giant on Wall Street rose throughout the day by 0.76%, closing for the first time slightly above the trillion dollar barrier.
While Apple and Microsoft continue to value more than 1 trillion dollar and Alphabet recently done it, Jeff Bezos’ company – which only exceeded one trillion dollars in the intraday price and never closed at those levels – is now below that figure.
In the case of Alphabet, investors have strongly opted for the company in recent weeks, in an apparent sign of confidence in Sundar Pichai, the new CEO. Pichai, who was the head of Google, leads two companies since last December, when the co-founder of the search giant, Larry Page resigned from the position he held since the creation of Alphabet in 2015.
Google launched Alphabet as an “umbrella” company to keep the different business lines of an increasingly diversified firm separate.
Alphabet is based in Mountain View, California, founded in 1998, has grown exponentially to become a business that has annual revenue over a 100 billion dollars.
