Google’s parent company achieved a major milestone on Monday when its market value passed $600 billion for the first time.
Shares in Alphabet, the holding company that includes Google, rallied nearly 2.4% to close at $862.76 in regular trading. It was yet another record high for the stock that lifted the company’s market capitalization to its highest point ever.
There was no big news from Alphabet today, but the rally could be in anticipation of Thursday’s release of first quarter results. Overall, 2017 has been kind to the search giant, with Alphabet (GOOG) stock up 11% year to date.
Just the second company to reach the $600 billion plateau, Google is only behind Apple (AAPL), which was up .08% on the day. Still, that’s good for a $752 billion valuation, giving Apple a commanding lead over its tech rival.
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The news for Google also gives it some breathing room ahead of bronze medalist Microsoft (MSFT) which has a market value of $521 billion, Amazon (AMZN) and its $433 billion valuation, and Facebook (FB) at $420 billion. Sixth place Berkshire Hathaway (BRK-A) is the world’s most valuable non-tech company at $409 billion.