With a market cap of $2.4 trillion, Alphabet Inc. (GOOGL) has evolved from a search-engine giant into a diversified technology conglomerate spanning cloud computing, digital advertising, autonomous vehicles, and healthcare. It dominates the online search market with over 94% share, benefiting from increasing search queries and advertiser activity. The company is also expanding its presence in cloud computing through Google Cloud and strengthening its position in autonomous vehicles with Waymo.
Shares of the internet search leader have outperformed the broader market over the past 52 weeks. GOOGL has rallied 32.6% over this time frame, while the broader S&P 500 Index ($SPX) has gained 23.3%. On a YTD basis, shares of GOOGL are up 6.1%, compared to SPX’s 3.3% gain.
