Published: Sat, January 18, 2020
Markets | By Otis Pena

Wall Street's trillion-dollar club dwarfs Europe Inc

Wall Street's trillion-dollar club dwarfs Europe Inc

The fifth-largest United States stock by market cap, Facebook, has a valuation of US$632.9 billion.

At last: Google's parent company, Alphabet, is now the fourth company in the USA to attain a market value of more than $1 trillion, after Apple, Amazon, and Microsoft.

The company follows in the footsteps of Apple, Amazon and Microsoft, all of which have reached the milestone in the past 18 months. Apple is the most valuable company in the United States, with a market value of almost $1.4 trillion. Globally, the list is topped by Saudi Aramco, Saudi Arabia's national oil company, which went public last month and now has a market cap of about $1.8 trillion.

Alphabet - whose Google unit was founded in 1998 out of a garage in Menlo Park, Calif., by Larry Page and Sergey Brin - joins the trillion-dollar club with fellow tech juggernauts Apple, Microsoft and Amazon, all of which have reached the 12-zero milestone over the past two years.

Ex-boss Carlos Ghosn used company money for private events: Nissan
Japanese Justice Minister Masako Mori has described Ghosn's criticism of her country's judicial system as "absolutely unbearable". In an email statement, Hironaka said that everyone involved in the case in his practice had resigned.

Five years ago, when Alphabet was created as an umbrella to cover Google and all of its projects, the market cap stood at less than half of what it does today.

The rest of the market is, at best, hundreds of billions of dollars away from trillion-dollar valuations.

Shares of Google climbed 34.5 percent in 2019, and are up just under 6 percent so far in 2020.

Alphabet is expected to report fourth-quarter earnings on February 3rd, with analysts anticipating a reported revenue of $46.9 billion. The e-commerce giant now has a market cap around $931 billion.

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