In October 2015, Google officially became Alphabet. They did this because Google had so much going on. So they combined all their smaller parts, from Google Maps to You Tube. Then they formed Alphabet. It seems to work for them. Because Alphabet Stocks Rise to n-e-w heights.
However, it’s not just stocks that are rising. Everything else Google is doing very well. Let’s look at digital advertising. Google and Facebook took 75 percent of the digital ad profits. Of course, that left little for the hundreds of other IT support companies. Also, Google’s revenue increased 22% from what it was at this time last year. Their overall net worth was 29% more then what is was in April 2016.
The stock traders are very happy with this. After this news, Alphabet Stocks traded high within hours after getting this news. In fact, on Monday April 24, Alphabet stocks started at $868.50. But as of today’s writing, prices were $929.58. But not all the news is good news. You Tube took a hit, thanks to some controversy over offensive content. But then again, this is 2017. Everybody is offended by everything. I digress. But it got so bad some advertisers called for a boycott. But it doesn’t seem to hit their revenue much, if at all.
Financially, things couldn’t be brighter for Google, whoops, I mean alphabet. Not only that, but tests for Google cars seem to be going well too. So who knows? Maybe you’ll be driving a Google car sometime soon. But with this awesome news comes a little concern, especially with the consumers. I notice how Google and Facebook, two mega, super tech conglomerates, got 75% of the digital ad profits. But wait…aren’t there hundreds…no…thousands of tech companies out there? Yes, many of them. But only two of them got that much of the pie. Now do you see my concern here?
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