Alphabet, Google parent company, is now a $1 trillion company

Alphabet ($GOOG), Google’s parent company, is the fourth company to reach $1 trillion in market valuation. It hit the legendary valuation, rising 0.87% before closing on Thursday at $1,451.70 a share. This is just weeks after the Google CEO, Sundar Pichai, was promoted to CEO of Alphabet. Previously, Google co-founders Larry Page and Sergey Brin had control over the parent company, while Google was headed by Pichai.

Apple was the first company to hit the unprecedented $1 trillion market cap, which has been followed by Amazon and then Microsoft. Technically, PetroChina hit the $1 trillion market cap briefly in 2007 and Saudi Aramco became the world’s first $2 trillion company after hitting the Riyadh stock exchange.

Google is now the 4th $1 trillion company, without considering PetroChina and Saudi Aramco. Facebook is expected to be next in line as it has a current market cap if $620 billion, as of Thursday’s closing.

Alphabet is expected to report around $47 billion in revenue, according to Wall Street analysts. If it hits that revenue number, it would mean a 20 percent growth year-over-year. The fourth-quarter earnings call by the company is expected on February 3.

As The Verge says, a $1 trillion company doesn’t equal more profits. It is just the sum of the companies assets and estimated overall value, after all. Especially with publicly traded companies, the market cap doesn’t tell even a part of the story. Though these $1 trillion companies were among the most profitable companies according to Fortune, it doesn’t mean that they are the best companies in the world.

Source: The Verge

Apply to write for us if you love writing and want to see your articles featured on Apple News, Google News, and more. Subscribe to our newsletter, What Just Happened, where we dive deep into the hottest topics from the week!

More from Technology – News Landed

Apple reduces trade-in value for many devices, you may have to look for private buyers

Apple may introduce a “Pro Mode” that will boost the performance of Macs

Popular Stories – News Landed

PigeonBot is the first robotic bird with feathered wings that can move

NASA reveals that the Australia fire smoke is circling the Earth

Comment Below

Featured Stories

MIT scientists create system to defend against killer asteroids

Scientists from the Massachusetts Institute of Technology have created a system that can be used to protect Earth against killer asteroids. The...

The coral reefs of planet Earth could be extinct by the end of this century

According to researchers, climate change could destroy almost all coral reef ecosystems around the world by 2100. The increase in water temperature...

Recent Stories

Firefox leading in security with default DNS over HTTPS

Firefox will be the first browser to make DNS over HTTPS (DoH) connections the default in their browser. This new standard will...

Newly discovered billion-year-old seaweed rewrites Earth’s history

Paleontologists discovered a billion-year-old seaweed fossil that is way older than the land-based plants that have changed the history of the earth....

Netflix adds Top 10 feature to homepage, featuring popular titles

Netflix has made its latest update feature quite interesting as the homepage is now going to show the top 10 titles people...

Khloe Kardashian: Facts about the KUWTK star you didn’t know

1. She used to work in a regular boutique. Khloe Kardashian was just another DASH employee back in 2007...