It’s nothing to sneeze at; simply one other stock on the S& P 500 index( Priceline) has a inventory price in the quadruple digits. Alphabet’s stock price has been surging this year, and the company’s market value, about $680 billion, is second to Apple.
So, why is Alphabet’s stock suffering such a boom? The success is due in big portion to the continued dominance of Google’s search engine( plainly ), and the ad revenue that comes with it. Alphabet’s other wagers, including driverless auto corporation Waymo and connected device marker Nest, are also suffering an uptick in profits.
Android and YouTube are also starting to pull in more capital for the company as well, despite predictions that YouTube would lose anywhere from $750 million to$ 1 billion of projected profit after its ad dispute earlier this year.
Looks like investors didn’t have much to worry about after all.