第一财经·2025-09-15 23:35Core Viewpoint - Alphabet, the parent company of Google, achieved a market capitalization of $3 trillion for the first time, driven by a resurgence of optimism in the artificial intelligence sector and favorable antitrust rulings [3][4]. Group 1: Market Performance - As of the latest close, Alphabet's stock rose by 4.3% to $251.76, bringing its total market value close to $30,500 billion [3]. - Year-to-date, Alphabet's stock has increased by over 33%, outperforming the S&P 500 index, which saw a 12.5% increase during the same period [3]. - Alphabet joins Apple and Microsoft as one of the few companies to surpass a $3 trillion market cap, while Nvidia remains the highest valued company at $4.25 trillion [3]. Group 2: Antitrust Ruling Impact - A recent U.S. court ruling allows Alphabet to maintain control over its Chrome browser and Android operating system, alleviating a major concern for investors regarding the company's core business [4]. - Although the ruling requires Alphabet to share some data, which may strengthen its advertising competitors, it does not necessitate the divestiture of key products [4]. Group 3: Revenue Growth and Diversification - Alphabet's cloud computing division reported a nearly 32% year-over-year revenue growth in Q2, exceeding market expectations, attributed to investments in self-developed chips and the Gemini AI model [5]. - Despite still being heavily reliant on its search business, Alphabet is diversifying into areas such as YouTube and Waymo, leading investors to recognize its broader potential [5]. - The current expected price-to-earnings ratio for Alphabet is approximately 23 times, slightly above its five-year average of 22 times, but lower than other companies in the "Magnificent 7" [5].