Google's parent company hits $1 trillion market cap for first time

by Jordyn Pair · Jan 16th, 2020 4:35 pm

Last Updated Jan 16th, 2020 at 5:38 pm

Alphabet, Google's parent company, has hit $1 trillion in market capitalization, the fourth U.S. company to do so.

Apple first hit the milestone in 2018, followed by Microsoft and Amazon. Both Microsoft and Apple are still valued at more than $1 trillion, while Amazon has since fallen below the mark.

The landmark comes in part because of the company's growth in the cloud business, where it doubled its revenue run rate from $1 billion to $2 billion per quarter between February 2018 and July 2019.

The company reports fourth quarter and full year earnings on February 3.