G oogle’s parent company Alphabet is on the verge of hitting a trillion-dollar stock market value for the first time, potentially becoming the fourth of the major US technology companies to reach the milestone. Alphabet's market value sat at around $990bn (£762bn) as of Monday evening, as investors brushed off months of employee spats, the departure of its co-founders and ongoing competition and data privacy investigations. Shares have climbed by 7pc this year and by more than a third in the last 12 months as it core internet advertising business continues to grow strongly, despite repeated predictions of a slowdown. If it hits the trillion-dollar mark, it will be only the fourth US company in history to do so, following Apple, Amazon and Microsoft, which have reached the level in the last two years. It comes despite the company facing the prospect of stricter regulation in the US and UK, where officials are investigating whether it has abused the dominant position of its search engine. Both the Department of Justice and a group of US states are examining Google on anti-competitive grounds, while the UK’s Competition and Markets Authority has raised the prospect of its own action against the company,… Read full this story
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