Alphabet (GOOGL) is booming to start the trading week, with its stock up 3.5% on Monday and its market cap hitting $3 trillion for the first time. The Google parent company is just the fourth company to hit that mark, after Apple, Microsoft, and Nvidia. The market capitalization update caps off a great string of weeks for Alphabet, following its antitrust case decision from a Federal Court that it didn’t need to sell its Chrome web browser.
In addition, Google’s cloud computing unit reported a nearly 32% jump in Q2 revenue, beating estimates. This growth suggests that the company’s investments in developing its own chips and the advanced Gemini AI model are starting to yield returns. As a result, Wall Street appears to be pushing GOOGL stock ahead, going all in on Alphabet.
Stock analysts and firms are bullish on GOOGL stock after its recent gains. Over the past month, its shares have been up over 22%, and Wall Street sees more green ahead. In a note to clients on Monday, Citi analysts became the latest to boost their price targets for the stock to a Street high of $280 from $225, citing an “improving legal landscape” in the wake of the decision, as well as growing adoption of Google’s artificial intelligence tools across its ad and cloud businesses.
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Furthermore, CNN analysts have rounded up a wide net of bullish predictions for Alphabet GOOGL stock in the coming year. GOOGL is trading near the top of its 52-week range and above its 200-day simple moving average. The platform rates GOOGL an 8/10 at press time. Additionally, CNN’s price forecast for Alphabet stock has it establishing a further high of $300. This reflects a gain of 19.8% from current prices. With Monday’s gains, Google stock is now up 31% in 2025, outpacing other magnificent-7 stocks like MSFT and AAPL.