Google parent Alphabet rallied Monday to breach $2 trillion in market value for the first time, fueled by a rebound in spending on digital ads and growth in its cloud business. From a report: Its Class A shares gained as much as 1.2% to a record high, with the stock extending a recent rally to a fifth session. Alphabet is the top performer this year among the five biggest U.S. tech stocks by sales, with a 70% advance fueled largely by the growth in Google’s advertising business. The share-price gain puts the company in an exclusive club alongside Apple and Microsoft, the latter of which also reached the $2 trillion milestone this year. The Google parent hit $1 trillion in value for the first time in January 2020.
of this story at Slashdot.
Source:: Slashdot