S&P 500 falls as ongoing government shutdown, trade jitters weigh
Alphabet Inc’s Class C shares, trading under the ticker GOOG, have reached an all-time high of 254.43 USD, with a substantial market capitalization of $3.07 trillion. This milestone marks a significant achievement for the tech giant, reflecting its robust market performance over the past year. According to InvestingPro analysis, the company maintains strong financial health with a "GREAT" overall score. Over the last 12 months, the stock has seen a remarkable increase of 54.49%, supported by impressive revenue growth of ~13% and a healthy P/E ratio of 27.05. The surge to a record high highlights Alphabet’s continued growth and innovation in the technology sector, further solidifying its position as a leading player in the industry. InvestingPro subscribers can access 17 additional investment tips and a comprehensive Pro Research Report for deeper insights into GOOG’s valuation and growth prospects.
In other recent news, Google is set to propose changes to its advertising technology business by early November in response to a €3 billion ($3.5 billion) fine from the European Union. The proposal aims to meet the EU’s deadline without a full sale of its Ad Manager, which includes the AdX exchange and DoubleClick for Publishers. Additionally, Google has launched a significant upgrade to its Chrome browser by integrating AI features through Gemini, enhancing user experience for Mac and Windows desktop users in the U.S. Meanwhile, Google’s commitment to Africa’s digital infrastructure has led to investments exceeding its 2021 pledge of $1 billion, establishing four subsea cable connectivity hubs across the continent.
In a separate development, PayPal announced a multiyear strategic partnership with Google to transform commerce across platforms and devices. This collaboration will integrate PayPal’s payment solutions within Google’s ecosystem, leveraging AI capabilities to enhance services. Furthermore, Lyft has maintained an Equalweight rating from Morgan Stanley following its partnership with Waymo to offer autonomous rideshare services in Nashville, set to begin in 2026. These recent developments indicate significant strategic moves by Google, PayPal, and Lyft in their respective markets.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.