Google Hits $1 Trillion In Value: Joins Apple, Amazon & Microsoft
Google’s parent company, Alphabet, has become America’s fourth company to achieve a $1 trillion market value – joining the elite group that includes Amazon, Apple and Microsoft.
The internet giant joins competitors Microsoft Corp., Amazon.com Inc. and Apple Inc. as the only firms to reach that threshold during intraday trading.
Apple and Amazon both accomplishing the feat in Summer 2018. Microsoft hit $1 trillion for the first time in April last year.
Amazon never closed above $1 trillion and has fallen well behind Microsoft and Apple – both who have rocketed past that threshold lately.
But despite concerns about regulatory scrutiny intensifying, the global tech giants have continued to soar in value – highlighting how investors prioritise companies that increasingly improve sales in a stagnated economy and low interest rates.
‘Google is one of those critical, important leaders in multiple areas,’ Michael Lippert, who manages the Baron Capital Opportunity Fund that counts Alphabet among its largest holdings, told the Wall Street Journal.
‘You almost can’t live your life without Googling things.’
But it’s not just big tech that are profiting – shares of smaller, disruptive companies have also soared recently. Electric-auto car maker Tesla Inc., plant-based meat-alternative maker Beyond Meat Inc. and Australia’s buy now, pay later platform Afterpay have also succeeded in the sharemarket.
Google has had to combat privacy and data concerns with rising costs in recent years – but their resilience in online advertising has continued to buoy the stock.
Apple, Amazon, Alphabet (Google) and Facebook now account for an estimated 19 per cent of the index in terms of weighting.