Google’s stock hits all-time high of $1.95trn

On Tuesday, Alphabet, Google’s parent company, rocketed to $1.95 trillion, its highest-ever share price.

Data from Google’s performance in the stock market showed that its stock jumped to an all-time intraday peak of $159.89 per share before settling at a closing price of $158.14, reflecting a 1.3 percent gain amid moderate broader market losses.

With the increase achieved on Tuesday, Google’s stock is creeping closer to the $2 trillion mark.

Firms already in the $2 trillion club include only American IT heavyweights such as Microsoft, Apple, and Nvidia, as well as Saudi Aramco, the Saudi Arabia-controlled oil behemoth.

Alphabet’s current ascension is driven by a 13 percent increase in its share price year-to-date and an astonishing 77 percent leap since the end of 2022.

The company claimed the gains were fueled by record profits from solid advertising spending and investor optimism about the company’s AI capabilities.

As Forbes initially reported, analysts predict Alphabet will continue to increase, with an average price target of $166, reflecting a $2.1 trillion market capitalization.

Recall that Google’s market worth fell by $90 billion two months ago, partly due to their Gemini AI service producing racially incorrect photos of historical figures. To $138.75, the company’s share price dropped by 4.5%.

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