Google’s parent company Alphabet is now worth $1 trillion dollars.
Google was the forth American company to break into the list after Apple, Microsoft and Amazon.
Google reached the milestone six weeks after founders Larry Page and Sergei Brin gave up their top jobs and handed over the reins to Google Chief Executive Sundar Pichai.
This change worked on Wall Street. Last quarter, the company’s profits were lesser than market estimates by nearly 2 billion dollars. But that did little to dent investors’ bullishness on the company.
Alphabet’s stock retreated briefly, only to resume its climb.
The stock surged up by nearly 17 percent over the last three months, better than fellow tech giants and the rest of the market. For the calendar year 2019, Alphabet’s stock was up nearly 35 per cent.
However, the world’s most valuable company is the Saudi run oil company, Saudi Aramco who is worth $2 trillion.