Alphabet Surpasses $3 Trillion Market Cap Following Sales Surge and Favorable Antitrust Ruling
New York – alphabet Inc., parent company of Google, has soared past a $3 trillion market capitalization, fueled by a 4.3% increase in stock price to $251.22,according to a report by El Financiero. This milestone places Alphabet among an exclusive group of companies valued above this threshold, alongside Nvidia, Microsoft, and Apple.
The stock has experienced a remarkable recovery, climbing over 70% as its April low and adding approximately $1.2 billion in value during that period. This resurgence comes as Alphabet benefits from growing demand for its artificial intelligence products and a recent antitrust ruling that avoided more severe penalties proposed by regulators, including a potential forced sale of its Chrome browser.
The positive momentum was further bolstered by an upgrade from Citigroup analyst Ron Josey, who raised his price target for Alphabet shares from $225 to $280, citing “an accelerated cycle of product progress that is beginning to emerge with a greater adoption of Gemini in its advertisements and cloud businesses.” Josey also noted increased clarity surrounding legal and regulatory challenges within a “relatively healthy online advertising market.”
Despite ongoing competition in the search market, Josey believes Google is demonstrating improved performance across its product range, experiencing increased demand and enhanced profitability. The favorable court decision followed strong second-quarter results for Alphabet, indicating AI-driven sales growth.