Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Alphabet Inc. Surpasses $2 Trillion Market Cap After Strong Earnings and AI Growth
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
Alphabet  Trillion Market Cap
PhotoNews Pakistan > Business > Alphabet Inc. Surpasses $2 Trillion Market Cap After Strong Earnings and AI Growth
BusinessTech

Alphabet Inc. Surpasses $2 Trillion Market Cap After Strong Earnings and AI Growth

Web Desk
By Web Desk Published April 28, 2024 3 Min Read
Share
Logos of Google, Microsoft, and Alphabet alongside the words "AI Artificial Intelligence" are displayed in an illustration. Photo Credit: Dado Ruvic /Illustration / Reuters
SHARE

Alphabet Inc. achieved a $2 trillion market capitalization for the first time on Friday, buoyed by a robust earnings report and advancements in artificial intelligence.

The company’s stock surged 10% to $171.95, marking its most single-day increase since July 2015, and closed with a market value of $2.15 trillion. This surge added nearly $200 billion to Alphabet’s market cap, one of the largest gains in a single day in stock market history. The stock has climbed 23% this year, outpacing the Nasdaq 100 Index’s 5.3% rise.

The milestone came after Alphabet reported revenues that exceeded expectations, driven by its strong performance in the cloud-computing sector, which has benefited greatly from growth in AI technologies. Additionally, Alphabet has initiated a dividend and announced a $70 billion buyback program, further boosting investor confidence.

Alphabet market cap tops $2 trillion after earnings beat, dividend announcement https://t.co/DzxnLXaK1R by @hshaban

— Yahoo Finance (@YahooFinance) April 26, 2024

Previously, Alphabet’s stock had surpassed $2 trillion on an intraday basis in 2021 and earlier this month, but Friday marked the first time it closed above that level. This achievement places Alphabet among a select group of companies, including Apple Inc., Microsoft Corp, Saudi Aramco, and Nvidia Corp, which have also crossed the $2 trillion threshold. Notably, driven by high demand for its AI chips, Nvidia reached this mark earlier in the year, and Amazon.com Inc. is also approaching it.

Despite its success, Alphabet’s journey to $2 trillion has not been smooth. The stock has experienced volatility and is facing significant scrutiny over its AI capabilities. Before the recent positive report, there was scepticism about its competitiveness with entities like OpenAI.

Alphabet's last 24 hours

• Announced first ever dividend
• Added $195 billion to its market cap
• Shares recorded best day since July 2015
• Market cap closed over $2 trillion for first time

They're officially the 4th most valuable company in the world pic.twitter.com/Mdoep4qASS

— Morning Brew ☕️ (@MorningBrew) April 26, 2024

However, Wall Street remains optimistic about Alphabet, with approximately 85% of analysts tracked by Bloomberg advocating a buy rating. Analysts project that earnings and revenue will continue to grow at a double-digit rate annually through 2026.

Moreover, Alphabet’s stock is considered relatively affordable. It is trading at about 23.5 times estimated earnings, making it one of the cheaper stocks among the top tech giants, often called the “Magnificent Seven.” It trades at a discount to the Nasdaq 100 and is slightly above its 10-year average earnings multiple.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Pakistan Auto Sector Growth

Pakistan Auto Industry Warns of More Exits After Yamaha Leaves

M5 Motorway flood

M5 Motorway Closed Due to Floods: Traffic Diverted from Multan to Sukkur

Carlos Alcaraz Lavers Cup

Carlos Alcaraz Headlines Laver Cup 2025 in Europe vs World Showdown

Post Archives

More Popular from Photonews

Wasim Akram betting complaint
Pakistan

Wasim Akram Faces Complaint for Promoting Betting Platform in Pakistan

2 Min Read
NADRA Mega Centers in Karachi
Sindh

NADRA Opens 3 New Mega Centers in Karachi

2 Min Read
Sialkot Cemetery Oath
Offbeat

Shocking Cemetery Oath in Sialkot Cattle Theft Case Sparks Outrage

2 Min Read
Pakistan

Imran Khan Writes Emotional Letter to CJP from Adiala Jail

Imran Khan, the founder of Pakistan Tehreek-e-Insaf (PTI), wrote a letter to Chief Justice of Pakistan…

September 18, 2025
Sports

Tokyo 2025 World Athletics Championships: Day Four Highlights

The World Athletics Championships in Tokyo reach an exciting day four. Olympic champions Faith Kipyegon and…

September 15, 2025
Punjab

Punjab EPA’s Drone Bust Exposes Illegal Pyrolysis Plants Fueling Lahore Smog

The Punjab Environmental Protection Agency (EPA) revealed a major cause of Lahore’s worsening smog using drone…

September 16, 2025
Entertainment

Vivian Wilson’s Bold NYFW 2025 Runway Debut Amid Elon Musk Feud

Vivian Wilson, the transgender daughter of Elon Musk, made a stunning debut at New York Fashion…

September 16, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?