Investments

Google Parent Alphabet Joins Amazon, Microsoft And Apple With $1T Market Cap

Top Four Tech Giants Reach $1T Status Again

The four largest tech companies have regained their trillion-dollar status as the stock market continues its surprising rebound following a big slide during the early days of the coronavirus crisis.

Alphabet, the corporate parent of Google, was the last of the big four to rejoin the trillion-dollar club, with its market cap on Monday (July 6) once again crossing the $1 trillion threshold.

Shares of the tech giant rose more than 2 percent to $1,495 per share on a day when the stock market was headed up once again.

The Dow Jones Industrial Average was up 1.32 percent by 12:45 p.m., or more than 341 points, while the tech-heavy NASDAQ had shot up 2.19 percent, or more than 223 points.

Alphabet joins Amazon, Microsoft and Apple, whose market caps are well over $1 trillion, weighing in at $1.44 trillion, $1.56 trillion and $1.58 trillion, respectively.

Alphabet’s market cap had previously surged past the $1 trillion mark at the start of 2020, only to take a major hit after the coronavirus crisis began to hit in the United States in February and March.

By the end of March, Alphabet’s market had sunk to just over $795 billion.

While the wider economy has taken a beating from the coronavirus and the economic downturn it has triggered, tech companies have benefited to varying degrees as the epidemic drives more and more social, business and economic activity online.

Of the big four, shares of Amazon saw some of the largest gains on Monday (July 6), rising 4.44 percent to $3,018 a share. Microsoft’s stock price rose 2.18 percent to $210.75 a share, while Apple rose 2.87 percent to $374.56 a share.

No other companies at the moment are close to joining the $1 trillion market cap club. The next in line is Facebook, but it is currently trailing at a distant No. 5, with a market cap of just over $665 billion.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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