Shares of Alphabet, Google‘s parent company, are now worth more than $1,000 for the first time, passing the threshold shortly after trading began in New York today.
The tech giant’s success comes just six days after Seattle-based e-commerce company Amazon reached the same milestone.
Go deeper with GlobalData
Alphabet’s shares have surged by 20 percent since January.
The company currently boasts the second-biggest market valuation in the world at $693bn, behind Apple, which is worth $802bn.
Amazon’s market value stands at $478bn.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataLarry Page, Alphabet’s CEO, is worth nearly $50bn.
Alphabet owns a number of platforms aside from the Google search engine, including YouTube, the video-sharing website and Waymo, an autonomous car development company.
Waymo could be worth around $70bn by 2030, according to analysts at investment bank Morgan Stanley.
Google’s ad revenue, which reached $21.4bn in the first quarter, a 19 percent annual jump, is one of Alphabet’s biggest sources of investor confidence and remains the company’s main source of income.
