Shares of Google parent Alphabet Inc. (GOOGL) are soaring, reaching an all-time high on Thursday. The tech giant is anticipated to announce impressive quarterly results, further propelling its stock.
Shares of Google parent Alphabet Inc. (GOOGL) are soaring, reaching an all-time high on Thursday. The tech giant is anticipated to announce impressive quarterly results, further propelling its stock.
The stock has experienced significant growth, up 3% to $152.88 in late-morning trading. This surge is part of the broader tech rally that Alphabet has been riding since the beginning of 2024. Both Alphabet Class A and Class C shares are on track for their first record closes since November 18, 2021. Notable figures include $149.84 for Class A shares (GOOGL) and $150.71 for Class C shares (GOOG).
As the market currently values Alphabet at $1.923 trillion, the company is poised to surpass the $1.9 trillion market cap threshold for the first time. This achievement underscores Alphabet's promising trajectory.
Despite recent belt-tightening measures resulting in over 1,000 job cuts, Alphabet continues its remarkable rally. In a memo circulated by Chief Executive Sundar Pichai, it was emphasized that further changes are ahead.
Alphabet's stock has witnessed a remarkable 57% surge over the past 12 months. Comparatively, the broader S&P 500 index (SPX) rose by 20.5% during the same period.
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