Netease Technology News on January 17, according to foreign media reports, on Thursday, local time in the United States, Google’s parent company Alphabet’s stock price rebounded in the last half hour of trading, closing at $ 1451.7, up $ 12.5, or 0.87%. This makes Alphabet’s market value break through the $ 1 trillion mark for the first time and is currently about $ 1.001 trillion.
With the market value breaking through the threshold, Alphabet has become the latest member of the so-called “trillion club”. Earlier, only three US companies achieved this milestone: Apple (with a market value of about 1.38 trillion US dollars), Microsoft (with a market value of 1.27 trillion US dollars), and Amazon. But Amazon’s current market value has dropped to $ 931.1 billion, and it must rise more than 7% to regain the $ 1 trillion threshold.
Globally, the company with the highest global market capitalization is Saudi Aramco, which went public in December 2019 and currently has a market capitalization of approximately $ 1.8 trillion.
The four giants, Apple, Amazon, Microsoft, and Alphabet, are by far the largest companies on Wall Street, and their sheer scale has made them have an extraordinary impact on the overall market direction. Together they account for more than 15% of the S & P 500’s weighting.
Other companies are still far from the $ 1 trillion market value, and the closest Facebook is currently worth only $ 632.9 billion. The largest company outside the technology or internet industry is Berkshire Hathaway Inc., which has the sixth largest market capitalization of about $ 559 billion.
Compared to last June’s lows, Alphabet’s current stock price is up about 40%, and this rebound is largely driven by optimism over its 2020 outlook, especially in terms of advertising revenue. Alphabet will announce 2019 fourth quarter results on February 3.
In a recent review, Evercore ISI raised its Alphabet target price from $ 1,350 to $ 1,600 and wrote that it expects the company to continue to “utilize YouTube’s dominance in search and video advertising.”
Earlier this week, Deutsche Bank raised Alphabet’s target share price to $ 1735, unchanged from Wall Street, and said the stock was “trading too low.” The agency’s rationale is that Alphabet will launch more advertising products, expand stock buyback programs, and increase the competitiveness of the cloud computing business.