Fri, December 01, 2023

Alphabet’s New CEO and Stocks

Stock market news google

The employees of Google parent-company Alphabet should be proud as the company’s market capitalization reached $1 trillion. This is an extraordinary moment for Alphabet’s new CEO Sundar Pichai as well.

Alphabet became the fourth U.S. company to hit the $1 trillion market capitalization.

Apart from Alphabet, Apple, Microsoft, and Amazon achieved the same result.

Apple’s market cap reached $1 trillion back in 2018. Other companies followed the footsteps of the Cupertino-based company. Microsoft was able to reach a $1 trillion market cap, followed by Amazon.

The market capitalization of Apple and Microsoft continues to stay above $1 trillion. Amazon is the only company, which was unable to retain the coveted place.

Alphabet and new leadershipAlphabet and market capitalization

Pichai replaced the Alphabet founder Larry Page. Furthermore, the co-founder Sergey Brin also decided to step down as president of Alphabet.

The new CEO worked for Google before replacing Page in December 2019.

Pichai was the CEO of Google. It is important to keep in mind that Google includes the company’s main businesses, such as advertising, YouTube, and Android, along with the famous search engine.

These businesses generate the vast majority of the Alphabet’s revenue and profits. Founders Brin and Page are controlling most of the company’s voting shares. As a result, they will have a significant influence when it comes to major decisions.

Alphabet will release the fourth-quarter report along with full-year 2019 earnings on February 3.

Moreover, the company was able to boost cloud business. For instance, Alphabet doubled its revenue run rate from $1 billion to $2 billion per quarter between February 2018 to July 2019.

Nonetheless, it is far behind its competitors Amazon and Microsoft. At the moment, Amazon is the market leader in the cloud business.

Thus, it is interesting whether the company will be able to retain the market cap for a long time.


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