On Thursday, Google parent company Alphabet’s market cap touched a trillion dollars for the first time.
Alphabet joins Apple , Amazon and Microsoft in the trillion-dollar club. While Microsoft reached the level for the first time in April 2019, Apple and Amazon hit the level in 2018. Apple and Microsoft are still valued at more than a trillion dollars; Amazon’s market cap has since fallen below that level.
Alphabet experienced a couple of important changes and achievements in recent years. The company’s Cloud business doubled its revenue run rate from $1 billion to $2 billion per quarter between Feb. 2018 and July 2019. The company expects similar growth in the year ahead. In December 2019, Alphabet founder Larry Page announced plans to step down as CEO, along with co-founder and president Sergey Brin. Sundar Pichai became CEO of Alphabet thereafter; Pichai was already Google’s CEO.
However, the company also faces potential hurdles such as antitrust investigations.