Google Parent Alphabet Hits $2 Trillion Market Value After Rally This Year
- Google parent is year’s top performer among U.S. tech giants
- Apple and Microsoft are only other U.S. stocks at milestone
This article is for subscribers only.
Google parent Alphabet Inc. 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.
Its Class A shares gained as much as 1.2% to hit an all-time high before paring the advance to close up 0.1% and just short of the mark. 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.