Shortly before close of trading on Thursday, Google’s parent company Alphabet became the fourth S&P component to hit a market cap of $1 trillion. It ended the day trading at $1,451.70 per share, up 0.87 percent.
Alphabet’s value has surged since the company stated last month that Google co-founders Larry Page and Sergey Brin were stepping down from managing the parent company and ceding control to Google CEO Sundar Pichai.
Alphabet will report its Q4 earnings on the 3rd of February, with Wall Street analysts are expecting it to report revenue of $46.9 billion. This is a year-over-year uptick of nearly 20 per cent.
The Mountain View, California-based corporate has now joined its fellow tech giants Apple Inc, Microsoft Inc and Amazon.com Inc in reaching the trillion Dollar barrier.
The next technology company expected to hit the $1 trillion market cap is Facebook Inc. However, with a valuation of around $620 billion it will need a considerable uptick to reach that number any time soon.