The stock of Google parent company Alphabet (GOOGL) is close to achieving a $4 trillion market capitalization as its share price hits an all-time high on a split-adjusted basis.
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Shares of Alphabet are up more than 5% on Nov. 24, and trading at a record high of $318.57, giving it a market capitalization of $3.85 trillion. The stock has risen more than 60% so far this year. Currently, only Apple (AAPL) and Nvidia (NVDA) have larger market valuations than Alphabet.
The search engine giant looks poised to become only the fourth company to achieve a lofty $4 trillion market capitalization, following Nvidia, Apple and Microsoft (MSFT) in reaching that milestone. GOOGL stock is currently rallying along with other stocks associated with the artificial intelligence (AI) trade.
Three Catalysts
Alphabet’s share price has been surging due to three catalysts in recent months. The first was that the company avoided a forced sale of its Chrome browser after a court found its search business to be an illegal monopoly but stopped short of ordering a break-up of Alphabet’s various businesses.
The second catalyst has been news that Warren Buffett has taken a stake in GOOGL stock worth more than $4 billion, one of only a handful of technology stocks owned by the famed investor. Lastly, Alphabet’s shares are soaring on strong demand for its new Gemini 3 AI model, which is reportedly much better than the AI applications of rivals such as OpenAI.
The surge in GOOGL stock is a striking reversal in sentiment toward Alphabet after some investors feared the company had lost its competitive edge and could be broken up by the U.S. government.
Is GOOGL Stock a Buy?
The stock of Alphabet has a consensus Strong Buy rating among 38 Wall Street analysts. That rating is based on 31 Buy and seven Hold recommendations issued in the last three months. The average GOOGL price target of $312.00 implies 1.39% downside from current levels.
