Google may soon join Apple, Microsoft and Nvidia in achieving this milestone

Google-parent company Alphabet’s shares are experiencing a massive surge after a long-awaited antitrust ruling removed a major risk that had been weighing on the stock for months, a report has said, adding that the company may soon join Apple, Microsoft and Nvidia as the tech company that has crossed the magic number of $3 trillion market cap. With the legal uncertainty now gone, investors are refocusing on the company's growth potential, Bloomberg reported.“What it does is it clears the runway for additional growth opportunities,” Neville Javeri, a senior fund manager at Allspring Global Investments, was quoted as saying. He believes the ruling "sets them up for a growth opportunity that might have been taken away."

How Chrome browser ruling is helping Google

Last week, a US district court judge allowed Google's parent company to avoid the most severe penalties sought by regulators, including the sale of its Chrome browser. This decision sent the stock up nearly 10% over two days, bringing it within striking distance of a $3 trillion market value.

At the time of writing, Google’s market cap touched $2.81 billion – just 7% away from the $3 trillion milestone, the publication said, noting that closing this gap may not be a stretch as the company’s revenues are projected to grow by 14% this year.The favorable ruling is the latest win for Alphabet, which has seen its stock climb more than 20% since its strong second-quarter earnings report in July. That report showed that demand for the company’s artificial intelligence (AI) products is boosting sales. These AI offerings have also increased investor confidence in Alphabet’s ability to compete with rivals like OpenAI.“Given new AI Search features and Google’s rapidly scaling Gemini app, we expect Google will maintain its leadership in traditional search,” noted TD Cowen analyst John Blackledge.While the debate over AI dominance is far from over, Wall Street is growing more confident in Alphabet's position. The company's new AI features and its latest Pixel phones have been well-received, it added.