Breaking: Alphabet (GOOGL) stock price hits new record high amid AI buzz

Yesterday, Alphabet Inc closed at yet another new all-time high stock price of $179.56 in the US trading session.

Google’s parent company climbed an impressive $1.37, or 0.77%, late yesterday, before correcting downward in pre-market trading to a price of $177.08 earlier today.

This is one of a number of record highs the stock has hit so far in 2024, and comes less than a month after Alphabet Inc’s previous all-time high, which saw the GOOGL closing stock price reach $179.54 on May 21st last month.

The current GOOGL stock market price in pre-trading hours hovered around $177.79 at the time of this article going to press.

Why has GOOGL stock price hit a new all-time high?

While Google hasn’t announced any world-shaking news since markets closed yesterday, it seems reasonable to assume that the stock price, among many others like Broadcom and Nvidia, is riding the AI hype wave still.  

It’s also important to remember that Alphabet Inc recently became a dividend-yielding stock, another possible reason for the ever-increasing rise in bullishness around the company.

On a winning streak

Overall, Google has had an incredibly good year so far. The Alphabet Inc share price has appreciated by $40 this year so far, or around 28.6% since January 1^st 2024, at the time of this article going to press.

A bit over 5% of this has come in during the past month alone.

The Alphabet (GOOGL) stock price has gone up by over $125 in the past five years – a rise of 230%. A significant portion of that, almost half, at just over $55, is from the past 12 months.