Google’s parent company, the online giant Alphabet Inc., achieved a $1 trillion market value on 16 January.
Shares in Alphabet rose 0.76% for the day to reach the trillion-dollar cap at the close of trade. With this, it joined giants Apple, Amazon and Microsoft as the fourth company to achieve such a market value. Apple and Amazon reached $1 trillion in 2018, while Microsoft did it last year.
Alphabet was formed as a holding company in 2015. It does ambitious research projects, including artificial intelligence and driverless vehicles.
Last month, Alphabet announced that the co-founders of Google, Larry Page and Sergey Brin, have stepped down from their executive positions at the company, and that Google chief executive Sundar Pichai would take over as the CEO.
“I want to be clear that this transition won’t affect the Alphabet structure or the work we do day to day”, Pichai said. However, the announcement raised speculation on whether Alphabet plans to reorganise.
The next company expected to reach a $1 trillion market value is Facebook, which was at about $620 billion on 16 January.
Google parent Alphabet becomes $1 trillion company
EPA/JUSTIN LANE
A file photo dated 18 October 2013 showing a view of the Google offices in New York, New York, USA. Alphabet, the parent company of internet giant Google, surpassed Apple as the world's most valuable company 01 February 2016, when investors snapped up stock after the company reported fourth-quarter earnings of nearly 5 billion dollars. The net earnings - 4.9 billion dollars to be precise - were an increase from 4.7 billion the year before. Revenue rose 18 per cent year-on-year to 21.3 billion dollars. Daniel Saurenz, an analyst with Feingold Research, said the news beat even the most ambitious expectations. The news sent the company's shares skyrocketing. In after-hours trading, Alphabet shares shot up as much as 8 per cent, boosting the company's market value as high as 570 billion dollars, rivalling Apple's current value of 533 billion.
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