Google’s parent company has hit a milestone recently, as a rally in the stock took it above a $1 trillion valuation for the first time, according to a report by Bloomberg.
The achievement, according to reports, solidifies the dominance of technology and internet stocks as the biggest titans of Wall Street.
![Alphabet](https://www.tahawultech.com/wp-content/uploads/2015/08/Sundar-Pichai-2.jpg)
Shares rallied in the last half hour of trading to close at $1,450.16, up 0.8 percent on Thursday.
Alphabet joins Apple, Amazon.com, and Microsoft as the only US companies to hit $1 trillion in market value.
According to the Dow Jones data published by Wall Street Journal, Alphabet took 47 trading days to reach $1 trillion from $900 billion.
This is reportedly the fastest that the company has ever made $100 billion. The Internet giant grew from $800 to $900 billion in two years, the data revealed.
Alphabet’s shares have been steadily rising since June, thanks to upbeat Wall Street forecasts and healthy investor appetite for tech stocks.
As a dominant force in the advertising business, Google’s revenue is expected to fuel Alphabet’s upcoming earnings. In addition, the firm’s video-sharing platform YouTube, which it acquired in 2006, has grown to become a $20 billion-a-year business.
The company has recently named Sundar Pichai as their CEO after co-founder Larry Page and Sergei Brin stepped down from their roles.