Last week Thursday, Alphabet, the Google parent company, became a $1tn company, becoming the fourth firm to reach the $1tn mark. However, analyst claims that in the future Alphabet would rise to be worth $2tn. Wall Street Bankers claims that the rise of Alphabet shares and the FAANG giant tech firms is uncontrollable. In 2019, FAANG tech giants that are Facebook, Amazon, Apple, Netflix, and Google saw their total combined market value add by $1.3tn. According to the global head of tech research at Deloitte, the value of the FAANG and Alphabet company is tremendous for people to quantify it.
According to Lee, google made its first development two decades ago, however since then, it hasn’t developed, and it’s still in its roots stage. He added that if google searches were made up of video and images, it would be easier compared to the current us of words. Currently, when purchasing products from a retail shop, one has to scan the bar-code one product at a time. But by improvising new tech vision machines, the camera would notice the product picked and charge you immediately.
Tech firms acquire a lot of data from customers and users. However, Lee urges giant tech firms to take this into their advantage and come up with tech gadgets and software that can revolutionaries the future. The US Congress, Justice Department, and state attorney are investigating Alphabet of bleach-of-privacy clams. Nevertheless, such claims won’t stop the firm from growing in value and size; this is according to a Monnes, Crespi, Hardt & Co analyst, Brian White.
In 2018 august, the first firm to enter the trillion-dollar club was Apple. Seventeen months later, its value grew by 38%, reaching $1.38tn. Amazon and Microsoft are also members of the $1tn value firms. Before, the $1tn club was known as FANG (Facebook, Amazon, Netflix, and Google). Later in 2015, Apple joined to form FAANG. In 2019, Microsoft reached the $1tn value leading t FAMANGS.
According to The Financial Times, the past decade was dominated by the FANGS. Also, they expect new tech firms to reign and dominate in th2 2020s. Amazon though it has declined in its value, reached the $1tn mark in 2018. Christopher Rossbach, the CEO of Knightsbridge, the intense challenges from lawmakers and state attorneys, won’t stop the growth and development of Alphabet. He also claims that in the future, Alphabet can reach the $2tn value mark, and for long-term investors, it’s the best firm to invest.
