In the past two years, Big Tech’s value has soared, buoyed by epidemiological shifts in the way we work and study, even as regulators around the world screen companies for allegations of privacy violations and antitrust concerns. Hence the slight decline in the value of the big tech sector at the beginning of this year.

Recently, the Alphabet stock price on the American Stock Exchange increased by an astonishing 10.1% to $3,030.93. At least 20 brokerages have raised their stock targets, bringing the overall Wall Street average to $3,450. This came after disclosing the company’s financial results for the last quarter. Alphabetical Internet ads, cloud computing, and computers helped achieve an exciting result.

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Alphabet also announced a 20-to-1 stock split, which will give shareholders 19 shares for every share they own, bringing the price down to about $138 based on Tuesday’s close.

Stock split is a method that companies use to attract investors by making them more accessible to everyone. However, some brokerages like Robinhood Markets allow investors to buy portions of the stock, making this tactic less effective.

Tesla (and Apple have also done a stock split in recent months to make their stock more attractive to retail investors.

Facebook’s Meta platforms, which is due to report results on Wednesday, and Amazon.com Inc’s also grew about 3% in pre-release turnover. In addition, shares of Advanced Micro Devices Inc (AMD) jumped 12% after outperforming Wall Street. Shares of Nvidia, Qualcomm (QCOM.O), Xilinx (XLNX.O) and Micron (MU.O) were also valued.

Source: Reuters in the United States