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.
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’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.