Trillion Dollar Club in Full Before-Coronavirus Muster: Alphabet Market Cap Breaks $1T Again

UTC by Darya Rudz · 3 min read
Trillion Dollar Club in Full Before-Coronavirus Muster: Alphabet Market Cap Breaks $1T Again
Photo: Depositphotos

Alphabet was the latest to re-enter the $1 trillion club, reaching a $1.02 market cap on June 6. GOOGL stock added 2.02% yesterday to close at $1,499.65 but slightly declined to $1,495.05 per share in the pre-market today. 

Before the COVID-19 pandemic, a big 1 trillion-dollar club consisted of four companies with such a market cap – Microsoft Corporation (NASDAQ: MSFT), Apple Inc (NASDAQ: AAPL), Google LLC (NASDAQ: GOOG) (NASDAQ: GOOGL), and Inc (NASDAQ: AMZN). Google’s parent company Alphabet joined the 1 trillion-dollar club in January. Amazon became the member in February.

Then, as the coronavirus was spreading, the market environment was faltering, and in March, the market collapsed. The recovery was slow but steady, and now the club is complete again. This time, Alphabet was the last to re-enter the club, its market cap surpassed $1 trillion yesterday.

On June 6, each of the elite stocks closed with a market cap higher than $1 trillion. Microsoft was valued at $1.61 trillion, its closing price made up $210.70 per share. In the pre-market now, it is trading at $210.14. Amazon’s market value totaled $1.52 trillion. Its stock closed 5.77% up, $3,057.04 per share, which became its new all-time high. As of the press moment, it makes up $3,067.99 per share. Further, Apple’s market cap rose to $1.64 trillion, the giant’s stock jumped by 2.68% to reach $373.85 at the close.

Alphabet managed to reach a $1.02 market cap on June 6. GOOGL shares added 2.02% yesterday to close at $1,499.65 but slightly declined to $1,495.05 per share in the pre-market today.

Monday was a big day for the U.S. markets, with indices and major stocks going up. The Dow Jones Industrial Average (INDEXDJX: .DJI) rose 459 points, or 1.78%, to 26,287.03, while the S&P 500 (INDEXSP: .INX) finished up 1.59% at 3,179.72. The Nasdaq Composite index (INDEXNASDAQ: .IXIC) jumped by 2.21% to an all-time high of 10,433.65. Stocks like Tesla Inc (NASDAQ: TSLA) and Boeing Co (NYSE: BA) rose as well, adding 13.48% and 3.93% accordingly. Netflix Inc (NASDAQ: NFLX) hit a new record, ending at $493.81 per share.

Prospective 1 Trillion Dollar Club Members

The performance of some companies’ stocks allows us to predict their membership in the club. At the beginning of 2020, analysts bet on Tesla that was expected to go bullish. For example, ARK Investment analysts said Tesla stock price would reach as much as $6,000, with its value rising to $1 trillion immediately.

Financial services giants Visa Inc (NYSE: V) and Mastercard Inc (NYSE: MA) have the potential to join Amazon, Apple, Google, and Microsoft as well. Both the companies reported strong Q1 2020 earnings, their stocks are up this year. Analysts think that both companies could be worth more than $1 trillion by 2023 if their average annual gains of the past three years continue to grow at the current pace.

GAMA Stocks: a Good Buy?

Not a good but perfect buy! Apple, Amazon, Microsoft, and Google have crossed the 1 trillion-dollar mark and entered the elite club of the most expensive American companies in the world. Some experts consider that the price of GAMA stocks can reach even higher. Since the tech market is continuously growing and gives fertile ground for non-stop innovation, the companies direct their efforts into conquering new areas, such as machine learning, AI, and automation. That already gave birth to a whole new range of product offerings – from cloud to autonomous driving – that will drive the companies’ bottom line far ahead for many years to come.

With this in mind, it is safe to say that it is high time to invest in MAGA companies if you have not yet. In the future, you will definitely benefit from good dividends.

Business News, Indices, Market News, News, Stocks
Darya Rudz
Author Darya Rudz

Darya is a crypto enthusiast who strongly believes in the future of blockchain. Being a hospitality professional, she is interested in finding the ways blockchain can change different industries and bring our life to a different level.

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