"Alphabet Inc. on Monday joined an elite group of companies valued at more than $3 trillion, the latest sign of improving investor sentiment toward the Google parent. Shares rose as much as 4.8% to $252.41, resulting in a market capitalization of just over $3 trillion. The stock has soared more than 70% from its April low, adding roughly $1.2 trillion in value over that span. Alphabet joins a short list of companies valued at more than $3 trillion, with Nvidia Corp., Microsoft Corp. and Apple Inc. the only other publicly traded stocks above that level."
"The stock's most recent leg higher was fueled by a long-awaited antitrust ruling that avoided the most punitive measures sought by regulators, including the sale of Alphabet's Chrome browser. The ruling came in the wake of Alphabet's second-quarter earnings, which showed that demand for artificial intelligence products is lifting sales. Earlier on Monday, Citigroup Inc. analyst Ron Josey boosted his price target on the stock to $280 from $225, citing an accelerated product development cycle that is beginning to emerge with greater Gemini adoption across both its Ads and Cloud businesses. Josey added that this comes amid greater clarity around its legal and regulatory challenges in what we believe is a relatively healthy online advertising market."
"Despite the competition facing the company's search business, we believe Google is executing better across its halo of products, experiencing greater demand and delivering improved profitability, Josey wrote in a note to clients. The comments reflect Wall Street's broadly positive view on the stock. More than 80% of the analysts tracked by Bloomberg recommend buying, even though this is below the ratios for Nvidia Corp., Microsoft Corp., Amazon.com Inc. and Meta Platforms Inc., all of which are near or above 90%. It may be difficult for the stock to keep rising at the pace it has been. Its 14-day relative strength index stands at nearly 90 a multi"
Alphabet's shares rose as much as 4.8% to $252.41, pushing market capitalization just over $3 trillion. The stock climbed more than 70% from its April low, adding roughly $1.2 trillion in value. A recent antitrust ruling avoided the most punitive remedies, including a forced sale of the Chrome browser. Second-quarter results showed AI-related product demand lifting sales. Citigroup raised its price target to $280, citing accelerated product development and greater Gemini adoption across Ads and Cloud amid clearer legal and regulatory conditions. Over 80% of tracked analysts recommend buying, though momentum indicators show elevated strength.
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