NEW YORK. Alphabet Inc., Google's parent company, is the fourth US company to have a market value of more than US$ 1 trillion.
Quoting Reuters, the market value of the internet giant rose by nearly 17% over the past three months, surpassing the rally in the S&P 500 index during the same period.
Alphabet Inc. joins Apple, Amazon and Microsoft as US companies that have a market value of US$ 1 trillion. "Google's stock is a stock that won't get you fired," said Kevin Landis, portfolio manager at Firsthand Funds.
At present, many investors find it difficult to release Alphabet's stock. The increase in Alphabet's share price of up to 28% and the performance of other technology stocks helped financial managers to record large profits in 2019. This makes it difficult for many investors to cut their exposure when they are unsettled by the implications of rising share prices.
Alphabet is scheduled to release its financial statements for Q4 2019 on 3 February. According to its latest report, the company was able to record a profit of around US$ 1.7 billion in the third quarter of 2019, higher than analysts' expectations. (AM/AR)