Alphabet Inc. (Google) reached a new valuation milestone on April 26, Friday, closing above the $2 trillion mark.
The CompaniesMarketCap index registered an overall $2.144 trillion market cap for Google in the weekly closing. According to the stock market aggregator, the company’s shares closed at $173.69, with nearly 10% gains on Friday and over 66% gains year-over-year. Currently ranked among the fourth most valuable stocks.
Precisely, the Nasdaq exchange index displayed a $2.137 trillion for its Class A common stock (NASDAQ: GOOGL), while Alphabet’s Class C capital stock (NASDAQ: GOOG) closed above $2.159 trillion.
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As Finbold reported, the technology giant reported revenue of $80.54 billion – 2.34% above the predicted $78.70 – and earnings per share (EPS) of $1.89 – a stunning 25.61% better than the forecast $1.50, on April 25. These remarkable results could have fueled the next day’s price performance as investors eyed dividends.
Gurgavin Chandhoke, CEO at uINVST, celebrated the milestone in a post on X (formerly Twitter).
Google stock analysis
Notably, the CompaniesMarketCap index price of $173.69 refers to Google’s Class C stocks, GOOG. Meanwhile, the Class A stock GOOGL trades slightly below that, at $171.95 per share, as per Friday’s closing.
Nevertheless, both display similar actions in the daily price chart, with a remarkable jump from April 25’s closing. As for GOOGL, the Class A stock closed at $151.33, registering over 13% gains in this gap.
Notably, Google shares are up nearly 25% year-to-date since the $138.17 price on January 2 and traded as low as $130.67 per share in 2024, on March 6.
Stock investors now wonder how high Google can go as its stocks enter a price discovery phase above the $2 trillion market capitalization.
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