Alphabet’s Share Price Tops US$1,000 Mark

Google’s parent company, Alphabet Inc. reached a new milestone on Monday by touching US$1,000 share price for the first time. The shares of the technology giant closed at US$1,003.88, up by 0.78%, or US$7.76. It can also be said to be a 37.9% rise since August 2015, when Google split off its earlier stage ventures from the core Internet business to become Alphabet Inc. With this achievement, the company joins the list of elite companies, including e-commerce giant Inc. and Warren Buffett’s Berkshire Hathaway Inc. Industrial experts believe that the rising stock prices are beneficial for companies, however, the high prices may make their affordability difficult for individual investors.

Alphabet Braces Itself to Hedge against Threats to Web Search Business

Alphabet Inc. has been strategically investing money in its businesses to hedge against any threats to its core web search vertical. The company has shown positive growth in cloud computing and artificial intelligence business. Besides this, the organization’s primary ads business is also expanding, dodging any hindrance from the proliferation of mobile devices. Verily, the medical business, closed a US$800 mn outside investment from the Singapore-based company, Temasek. While the company is boosting investments in these businesses, Alphabet has reduced funds for its fiber broadband service.

As per a note from Morgan Stanley last month, Waymo, the self-driving car unit by Alphabet, is in the position to lead the market for autonomous transit. Analysts estimate the unit to have a valuation of around US$70 bn by 2030 – a prospective value that is not included into the current share price of Alphabet Inc.

Author: Rohit Bhisey

As Head of Marketing at TMR Research, Rohit brings to the table over a decade of experience in market research and Internet marketing. His dedication, perseverance, and passion for perfection have enabled him to achieve immense success in his field. Rohit is an expert at formulating new business plans and strategies to help boost web traffic. His interests lie in writing news articles on technology,healthcare and business.

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