Alphabet, the Google matrix, joins Nvidia, Microsoft and Apple in the select group of companies with a higher assessment The actions of the technological giant rose 4.4% to 251.49 dollars, which raised its stock market capitalization above that historical brand.
Since its minimum of April, the value has fired more than 70%, adding about 1.2 billion dollars in that period (1.02 billion euros). Including Monday’s movements, the shares have risen more than 32%so far this year, the best performance among the magnificent seven-Nvidia (+30.9%), Microsoft (+21.7%), Apple (-5.5%), Google (+32.5%), Amazon (+6.1%), goal (+30.5%) and Tesla (+4.8%)-and overcoming the 12.5% increase in S&P 500.
The recent upward stretch has been promoted by the renewed euphoria in the buoyant technological sector enhanced by the rise of artificial intelligence, taking Nasdaq to historical maximums. An example of this is Oracle’s record, which recorded an increase of 36% last Wednesday.
In addition to this growth in the sector, Alphabet has benefited on September 2 of the expected antitrust failure, which avoided imposing the most punitive measures to the searches giant, including on the other hand, the company will not have to discourage key assets or will be excluded from the search market for five years, as federal prosecutors claimed.
That ruling came shortly after the results of the second quarter, which showed that the demand for artificial intelligence products is promoting sales. In addition, the company registered a benefit of 28,196 million dollars (23,976 million euros), which translates into an increase of 19.37% compared to 23,619 million dollars (20,085 million euros) obtained in the same period of the previous year.
The trust of investors was also reinforced after the company’s cloud computing unit recorded an increase of almost 32% in the second quarter revenues, exceeding expectations as investments in own chips and the artificial intelligence model Gemini began to bear fruit.
Citigroup analyst Ron Josey, raised his target price for the action of 225 to 280 dollars on Monday, citing “an accelerated product development cycle that begins to emerge with a greater adoption of Gemini in his advertising and cloud businesses”.
Josey added that this occurs “amid greater clarity about his legal and regulatory challenges, in what we believe is an online advertising market relatively healthy.” “We believe that Google is running better throughout its product ecosystem, experiencing greater demand and offering improved profitability,” Josey said.
“We believe that new evidence of Gemini’s progress and growth in the use of searches can promote a greater expansion of the multiple of action towards historical premium levels,” said Bank of America.
