Alphabet Inc. shares increased 0.58% higher to $2,712.60 Tuesday. This proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX rising 0.82% to 4,423.15 and the Dow Jones Industrial Average DJIA rising 0.80% to 35,116.40.
Alphabet Inc. closed $53.34 short of its 52-week high ($2,765.94), which the company reached on July 28th. The stock demonstrated a mixed performance when compared to some of its competitors Tuesday, as Apple Inc. AAPL rose 1.26% to $147.36, Microsoft Corp. MSFT rose 0.81% to $287.12, and Facebook Inc. Cl A FB fell 0.20% to $351.24.
Alphabet has handily outperformed its mega-cap tech peers this year, and analysts remain bullish on the stock ahead of the company’s second-quarter earnings results. The company also allowed 85% of employees to work remotely or relocate once its offices were fully reopened. Crypto ads are back on Google’s advertising platforms after the company revised its policies in June, but it’s not nearly as open as before. The tech giant had banned all advertising related to crypto companies and initial coin offerings in March this year. The policy imposed an overarching ban on almost every crypto product, including exchanges, wallets and more.