The Trillion Dollar Club - Alphabet
Five years ago, Alphabet was created as an umbrella to cover Google and all its subsidiaries - at that time the market cap was half what it is today. That parent company has now reached the $1 trillion valuation on Thursday, making it the fourth US company to hit the milestone.
Apple was the first to reach this enviable goal in the summer of 2018, followed by Microsoft and then Amazon (who reached it in 2019). The next big competitor to cross the $1 trillion milestone will likely be Facebook: with a value of $632 billion at present.
Chinese Alibaba Group and Tencent, who are both on the list of most profitable corporations, are in pursuit of this prestigious ranking among large American tech companies.
Where we were a decade ago is a far cry from where we are today.
In 2010, Apple and Microsoft shared the top corporation list with oil companies…ExxonMobil, which is worth less today than it was 10 years ago, is certainly a sign of the time. How these traditional sectors look to reimagine themselves will be critical moving ahead.
Makes you wonder where the market will progress to in another 10 years.
Cheers,
Andrew B. McWiggan