Sundar Pichai’s Alphabet Will Soon Be 4th Tech Company To Cross 1 Trillion-Dollar Value

Sundar Pichai had a good end to last year, with him getting the reigns of Google’s parent company Alphabet, as well as a handsome salary hike with tempting stock options.

And now, 2020 too has begun on a positive note for the Alphabet CEO of Indian origin.

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Sundar Pichai will be happy to know that Alphabet’s share prices spiked a good 1.2-percent during the pre-market trading on Thursday, after positive comments from analysts for the brand’s prospects in 2020. At least three financial firms raised their price target on the stock -- primarily on the fact that it could see promising growth in the ad business, partly relying on the political ad spending for the 2020 elections.

The push has resulted in the tech giant to close on Wednesday at a market capitalisation of $969 billion -- gaining more than 35 percent than a not-so-promising June 2019.?

While analysts find the Alphabet’s prospect rising due to spike in ad revenue, many also see promise with its video streaming platform YouTube.

As per a recent Bloomberg report, as of now, 40 analysts recommend buying Alphabet while five have a hold rating on the stock -- getting the average price target to around $1,467 -- four percent more than its most recent close.?

With the positive target raises by analysts, Google's parent company Alphabet becomes the second brand in tech lead by Indian-origin CEO to touch a trillion-dollar valuation, after Satya Nadella’s Microsoft. It is also the fourth tech company to touch a trillion-dollar valuation, After Apple, Amazon and Microsoft.?

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In case you thought Alphabet just owned Google Search, YouTube and Android, you’d be surprised to know that it has numerous other businesses under its purview.?

Companies like self-driving car technology business Waymo, health care software company Verily, high-speed gigabit internet connection network Google Fiber, advanced AI firm DeepMind, and more, became the holding company for all businesses that didn't easily fall under Google's mandate in a 2015 restructuring of Google, all of which are controlled by Sundar Pichai now.