Google-parent Alphabet Inc became the fourth U.S. company to top market value of more than $1 trillion on Thursday. Shares of the search engine giant are up by nearly 17% over the last three months, outpacing a more significant rally in the S&P 500 index for the same period by 6% points.
Alphabet joins Amazon.com, Apple, and Microsoft as the only U.S. companies to hit $1 trillion in market value. Alphabet is scheduled to report it’s fourth-quarter earnings on Feb. 3. In the latest report, Alphabet Inc missed analysts’ estimates for third-quarter profit by almost $1.7 billion, though it beat revenue expectations. This news did not affect investors’ bullishness on the company largely: Alphabet’s stock withdrawn briefly on the report, only to resume its climb in the next few days.