Boosted by better-than-expected financial reports,The stock price of Alphabet, the parent company of Google, surged 10% on Thursday (April 30). The cumulative increase during the year reached 140%, and the market value exceeded US$4.6 trillion.The company reported revenue on Wednesday that exceeded analysts' expectations, with Google Cloud business revenue exceeding the $20 billion mark.
At present, the world's largest company by market value is still Nvidia, the overlord of artificial intelligence chips, with a market value of nearly US$4.9 trillion. However, Nvidia's stock price fell by more than 6% in two days as its business partner OpenAI was revealed to have failed to meet internal revenue and growth expectations.
If NVIDIA fails to rebound in its financial report released on May 20, the options market predicts that Alphabet may reach the top of the world's market capitalization as early as May 15.To achieve this goal, Alphabet's market capitalization would need to catch up to Nvidia's current level, and the stock price would need to rise another approximately 4%, to approximately $401.
Options traders believe there is about a 53% chance that Alphabet shares will hit $401 between now and May 15.
According to data from ThinkOrSwim, the probability of Alphabet's stock price closing above $400 on May 22 (the Friday after Nvidia's earnings report is released) is about 30%.
It is worth mentioning that the last time Alphabet became the world's most valuable company was in 2016, when it briefly surpassed Apple and topped the list.
