Alphabet, Google’s parent company, closed its stock above US$200 for the first time on a split-adjusted basis on Jan. 24, ending at US$200.21.
This marks a 1.1% gain for the day and a 6% rise year-to-date, surpassing the Nasdaq’s 3.3% growth.
The performance of Alphabet’s stock reflect optimism about its advancements in AI, despite competition from OpenAI and regulatory hurdles.
Analyst remain confident in Alphabet’s AI leadership, citing progress in initiatives like Project Astra, Project Mariner, and the Gemini 2.0 language model launched in 2024.
In Q3 2024, Alphabet reported a 15% revenue increase year-over-year, with total sales of US$88.3 billion, including record-high cloud revenue.
🔗 Source: CNBC
