Google’s parent Company Alphabet hit $1 trillion market capitalization and became the fourth U.S. company to hit the milestone after Apple, Amazon, and Microsoft. The Company hit the numbers right before the market closed on Thursday.
Alphabet was recently taken over by Sundar Pichai after the Company’s co-founders Larry Page and Sergey Brin decided to relinquish their control. Analysts are adamant that the company’s newly appointed CEO is the reason behind this milestone. The Company has been in deep waters for a few years, as many executives have been accused of misconduct. Moreover, the 20,000-person Google Walkout employee protest was a big blow at Alphabet’s reputation.
Even though the company has yet to reveal its fourth-quarter earnings report, the Wall Street analysts have stated that they are expecting Alphabet to report $46.9 billion profit which will be almost 20% higher than the profit generated in Q4 yesteryear.
Currently, Apple is the most valuable company in the United States, with a market value of nearly $1.4 trillion. Following the Cupertino, Microsoft is worth almost $1.3 trillion. However, shares of Alphabet are off to a good start. It looks like 2020 will be a good year for the company since the shares are already surging by 8%.
Overall, the tech sector is expected to soar in 2020. We are expecting some substantial revenues this year. Moreover, the next Company to hit the $1 Trillion milestone will most probably be Facebook.