The parent company of Google, Alphabet is now a $1 trillion company. It is the fourth U.S company that has hit the trillion-dollar market. Just before the markets closed on Thursday, the day’s trading ended at $1,451.70 per share, up 0.87 percent.
Sundar Pichai, the CEO of Google took over as the CEO of Alphabet in December. It wasn’t a smooth ride with allegations of sexual misconduct and a 20,000-person Google Walkout employee protest.
Now Alphabet will report its fourth-quarter earnings on February 3rd and as per the Wall Street analysts they are expected to report revenue of $46.9 billion that is a year-over-year increase of almost 20%.
The first U.S company to hit a $1 trillion cap in 2018 was Apple. Later Amazon and Microsoft followed it and reached the trillion-dollar market. Amazon’s figure has dropped since then.
Back in 2007, the first company to hit the $1 trillion market cap for a short period of time was PetroChina. Also, last year Saudi Aramco became the first company to hit the $2 trillion mark shortly after its debut on the Riyadh stock exchange in December.
Although this is a great thing for companies to reach the trillion-dollar mark, it does not fully depict the economic condition of a company. According to Fortune, the trillion-dollar companies were amongst the most profitable companies in the world last year but Saudi Aramco was at the top with Apple 2nd and Alphabet at the 7th position.
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It is expected that the next company that will hit the $1 trillion market cap would be Facebook.