Google’s parent company, Alphabet (GOOGL), officially becomes the 4th U.S company and the 3rd tech-based company to reach the $1 trillion mark in market capitalization. Following its predecessors Apple ($1.38 trillion), Microsoft ($1.27 trillion), and Saudi’s Aramco IPO ($1.7 trillion), Alphabet’s rapid growth in terms of revenue has helped secure its place in the trillion-dollar club.
According to Dow Jones Market Data, Alphabet’s value apparently rose from $900 billion to $ 1 trillion in a matter of 47 days; it is the fastest economic growth an American company has ever seen. It is interesting to note that previously it had taken nearly 2 years to rise from $800 billion to $900 billion in revenue.
The majority of the Silicon Valley giant’s financial flow comes from Google. In fact, the ad revenue from Google itself accounts for around 84% of the Alphabet’s profits. Apart from this, the company has also reaped benefits through its wise investments in newer technologies such as cloud computing, and self-driven cars.
This is a remarkable feat by Alphabet after Sundar Pichai took over the CEO responsibilities from co-founder Larry Page a month ago. Today, Alphabet’s stock price is $1450 per share which has made it enter the list of world’s 10 most expensive stocks of all times. Reports suggest that Apple, Microsoft, Alphabet, and Facebook’s combined market value is above $4 trillion and is expected to grow further in the coming days.