Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), the parent company of Google, reported stellar third-quarter earnings that not only beat Wall Street's expectations but also drove the combined market cap of the "Magnificent Seven" tech giants to an unprecedented $16.8 trillion.
Alphabet's earnings per share came in at $2.12, a 37% increase over the same quarter last year, far exceeding the consensus estimate of $1.55, according to data from Benzinga Pro.
Revenue reached $88.27 billion, representing a 15% year-over-year rise and surpassing the $86.39 billion that analysts anticipated.
Google advertising business was a key factor leading to the rise in revenue, totaling $65.9 billion, up from $59.6 billion last year.
Read More: Alphabet Q3 Earnings Highlights: Revenue Beat, EPS Beat, Google Cloud Up 35%, 'Momentum Across The Company Is Extraordinary'
Alphabet Stock Surge Adds Over $150 Billion To Market Cap
As a result of these impressive numbers, Alphabet's shares rallied over 6% by mid-morning on Wednesday, marking its best trading session since April.
The stock price increase translated into a more than $150 billion rise in Alphabet's market capitalization, which now stands at $2.239 trillion.
Alphabet's surge also gave a substantial lift to the combined valuation of the Magnificent Seven, pushing it to a record-high $16.8 trillion.
Mixed Performance Among the Magnificent 7
While Alphabet soared on the back of its strong quarterly report, other stocks within the Magnificent Seven showed mixed performance on Wednesday. Nvidia Corp. (NASDAQ:NVDA) slid as investors grew cautious on semiconductor stocks following weaker-than-expected earnings from Advanced Micro Devices Inc. (NASDAQ:AMD).
The week remains pivotal for the Magnificent Seven, as several other tech giants are set to release their quarterly earnings. Microsoft Corp. (NYSE:MSFT) and Meta Platforms Inc. (NASDAQ:META) will report their results after the close on Wednesday, while Amazon.com Inc. (NASDAQ:AMZN) and Apple Inc. (NASDAQ:AAPL) will follow suit on Thursday after the market close.
Looking at the group's recent performance, Tesla Inc. (NASDAQ:TSLA) emerged as the strongest over the last five days, with its stock gaining 20.28% following a positive reaction to its recent earnings report.
Here's a breakdown of market caps, recent price changes and year-to-date returns for each company within the Magnificent Seven:
Name
Market Cap
Price Chg (5 Days)
Total Return (YTD)
Apple Inc.
$ 3,526.02
-1.67%
20.91%
NVIDIA Corporation
$ 3,416.76B
-3.00%
181.33%
Microsoft Corporation
$ 3,255.49B
2.43%
17.08%
Alphabet Inc.
$ 2,237.83B
9.48%
29.92%
Amazon.com, Inc.
$ 2,035.74B
2.25%
27.66%
Meta Platforms, Inc.
$ 1,507.24B
2.37%
68.83%
Tesla, Inc.
$ 841.61B
20.28%
5.51%
10 ETFs Moving On Alphabet Rally
Alphabet's post-earnings rally has boosted several exchange-traded funds with significant exposure to the stock.
ETF Name
Weight %
1-day %chg
Direxion Daily GOOGL Bull 2X Shares (NYSE:GGLL)
18.49%
+10.7%
iShares Global Communication Services ETF (NYSE:IXP)
12.61%
+1.8%
Fidelity MSCI Communication Services Index ETF (NYSE:FCOM)
Alphabetは強力な四半期報告書を背景に急騰しましたが、壮大な7社内のその他の株は水曜日にはパフォーマンスにはばらつきがありました。株式投資家がAdvanced Micro Devices Inc. (NASDAQ:AMD)の業績が予想を下回ったことに懸念を示したため、Nvidia Corp. (NASDAQ:NVDA)の株価が下落しました。
Magnificent Sevenにとって今週は重要であり、他のいくつかのテック巨大企業が四半期業績を発表することになっています。マイクロソフト社(NYSE:MSFT)とmeta platforms Inc.(NASDAQ:META)は水曜日の取引所閉鎖後に結果を報告しますが、Amazon.com Inc. (NASDAQ:AMZN)とApple Inc. (NASDAQ:AAPL)は木曜日の市場クローズ後に続きます。
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会（ASIC）の管理を受けております（AFSL No. 224663）。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。
Google advertising business was a key factor leading to the rise in revenue, totaling $65.9 billion, up from $59.6 billion last year. 
Google広告事業が売上高の上昇に寄与し、659億ドルと前年の596億ドルから上昇しました。 