Alphabet's 64.7% stock surge tops the Magnificent 7, fueled by AI-driven gains in search and cloud despite valuation concerns.
Alphabet Inc (NASDAQ:GOOG) has surpassed Apple Inc (NASDAQ:AAPL, XETRA:APC) to become the world's second-most valuable company, trailing only Nvidia Corp (NASDAQ:NVDA, XETRA:NVD). The move marks the first time Alphabet has topped Apple in market capitalization since 2019.
Alphabet overtakes Apple in market value for the first time since 2019, which may lift key ETFs.
EU antitrust regulators will decide by February 10 whether to clear Alphabet's $32 billion acquisition of cybersecurity company Wiz, its largest deal ever, according to a filing on the European Commission website.
A day of steady reporting on the labor market and goods-producers sent market indexes in different directions today.
Alphabet Inc. (GOOG) concluded the recent trading session at $322.47, signifying a +2.52% move from its prior day's close.
Google parent company Alphabet saw its market capitalization surpass Apple's for the first time since 2019. Alphabet's market cap closed at $3.88 trillion on Wednesday, while Apple's market cap closed Wednesday at $3.84 trillion
The cases involving Character.AI's virtual companions highlighted concerns about artificial intelligence and mental health.
After ChatGPT dominated the early chatbot market, Google staged a comeback with a powerful AI model. It also launched the biggest search-engine overhaul in years.
Alphabet (GOOGL) has experienced setbacks in the past. Its stock dropped by over 30% within less than two months in 2022, resulting in billions in lost market value and eliminating significant gains in a single correction.
Alphabet Inc.'s 'TorchTPU' initiative aims to directly challenge Nvidia by making TPUs competitive in both hardware and software, with Meta as a key partner. The pending acquisition of Intersect is expected to secure critical energy and data center assets, supporting GOOG's AI and infrastructure ambitions. Despite a forward P/E rising from ~14x to 28x in 2025, I believe GOOG's growth prospects justify the premium valuation.
Samsung Electronics plans to double this year the number of its mobile devices with AI features powered by Google's Gemini, its co-CEO said, which would give the U.S. firm an edge over rivals as the global race in artificial intelligence hots up.