Alphabet, Google's parent company, has finally hit the $2 trillion market cap milestone. The Sundar Pichai-run tech behemoth’s market cap crossed the $2 trillion mark briefly, late on Monday, closing at $2,987.03 per share.
Alphabet's market cap was $1 trillion in January 2020 and it has witnessed around 100% growth till date.
With the current valuation, Alphabet has now joined Apple and Microsoft to be the third US-based company with $2 trillion worth.
Alphabet, the parent company of Google, posted an all-time record revenue of $61.9 billion for the July-September quarter, along with record profits at $18.9 billion.
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It said late last month that with respect to foreign exchange impact on reported revenues, it expects virtually no impact in Q4 in contrast to a 1.5 per cent tailwind in Q3 and 4 per cent in its Q2.
Apple hit the mark in April last year, while Microsoft reached the $2 trillion mark in June this year.
Amazon is also nearing the $2 trillion mark.
Microsoft is now worth a smidge more than Apple, making the Satya Nadella-led cloud software giant the world's most valuable company. Both companies are worth about $2.5 trillion.
Tesla, Elon Musk's electric car giant, recently passed the $1 trillion mark and has since surged to a market cap of about $1.25 trillion.
These five companies are now collectively worth almost $10 trillion.
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That's nearly a quarter of the combined $41.8 trillion market cap of the entire S&P 500, reports CNN.
