Alphabet’s stock touches $1,000 and hit record high

News Hour:

On the day the world’s largest company Apple was doused with a downgrade, shares of the world’s second largest company were fanned into much anticipated $1,000 territory.Alphabet has joined the exclusive $1,000 club.

Shares of Google’s parent company crossed the $1,000 mark shortly after the opening bell on Monday, notching a new record high of $1,007.40. The tech giant follows Amazon, which topped the $1,000 threshold last week. crossed the same threshold, showing the sustained investor confidence that tech giants can outmatch older companies.

A better measure of a company’s size is its market capitalization. Alphabet is currently worth $688 billion, trailing only Apple at $802 billion. Amazon, whose stock trades hands for $1,011, is catching up and is worth $483 billion.

Google founders Larry Page and Sergey Brin each added roughly $360 million to their fortunes on Monday, according to Forbes’ real-time billionaire rankings. The two men are the 12th and 13th richest people in the world. Page is worth an estimated $47 billion, while Brin’s fortune stands at $46 billion.

Technology stocks like Alphabet, Amazon, Microsoft and Facebook have soared this year, trouncing the broader market and helping the Nasdaq post 16% gains.

It’s not the first time Google has been priced at $1,000 a share. Prior to its stock split in 2014, shares of the tech giant rose to $1,200. But it’s the first time it broke the mark since it became Alphabet.


This article has been posted by a News Hour Correspondent. For queries, please contact through [email protected]
No Comments

Translate this News

Join the Facebook Group

Click here to join the Facebook group of News Hour

Popular Posts

Sacred Games exposes Rajshri Deshpande nude [video]
Anurag Kashyap shoots Kubra Saith 7 times nude and made her cry for frontal nudity scene [Video]
Bangladeshi bodybuilder Hasib Mohammad banned after winning an international competition
Immigration: The search for a better way of life
Bank of America to recruit 50 bankers for its investment banking team in Asia
Eisai Co received approval from the U.S. Food and Drug Administration for its insomnia treatment


News of the Month

Scroll Up
%d bloggers like this: