17th January, 2020
Google has recorded a milestone achievement of $1 trillion, joining the likes of Apple, Microsoft, and Amazon.
The search engine company was able to achieve the feat on Thursday, after its parent company, Alphabet ended the day’s trading at $1,451.70 per share, up 0.87 percent.
With Thursday’s achievement, Google became the fourth S&P 500 component to top the lofty level. Business Insider reported that while Apple and Microsoft are still valued at more than $1 trillion, Amazon which was the second US firm to ever hit the $1 trillion level back in September 2018 has since fallen below the number.
This is the first time that three American companies are worth at least $1 trillion at the same time. The most valuable company on the planet is still the oil giant Saudi Aramco, who went public last month at a valuation of $2 trillion and is currently worth around $1.8 trillion.
Alphabet’s record market valuation came after a historic change in leadership at the company. Recall that Sundar Pichai became the CEO of both Google and Alphabet after co-founders Larry Page and Sergey Brin announced that they would step back from the company which they founded in 1998.