Alphabet is the top performer among the five biggest U.S. tech stocks this year with a more than 70 per cent advance
The share-price advance puts the company in an exclusive club alongside Apple Inc. and Microsoft Corp., the latter of which also reached the US$2 trillion milestone this year. The Google parent hit US$1 trillion in value for the first time in January 2020.
Alphabet is the best-performing stock this year among the five biggest U.S. technology companies by sales, and bulls see the stock rising further because of its cheaper valuation and higher growth rate than most of its megacap peers. Alphabet is a near-unanimous favourite on Wall Street. Of the 49 analysts tracked by Bloomberg who cover the stock, all but one recommend buying Alphabet shares. The average 12-month price target for the stock is US$3,321, which suggests a 11 per cent return from its current share price.Article content
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. eases COVID-19 restrictions at land border for fully vaccinated CanadiansFor the first time in nearly 20 months, non-essential traffic is once again moving in both directions across the Canada-U.S. land border.
Read more »
The cryptocurrency market is now worth more than $3 trillionDigital assets has roughly quadrupled in value this year
Read more »
New York Islanders end Winnipeg Jets’ undefeated stringWinnipeg Jets blanked for first time this season in match against New York Islanders
Read more »
Ethiopians denounce the U.S. at rally to back government’s campaign against rebel forcesEthiopians denounce the U.S., which is among the foreign powers that have called for a ceasefire as a year-long war that has killed thousands of people intensified amid rebel advances last weekend
Read more »