This article first appeared on GuruFocus.
Alphabet (NASDAQ:GOOG) rose about 2% to a fresh record high on Wednesday as investors positioned ahead of the company’s quarterly results due after the bell.
Broader markets nudged higher, with the Nasdaq gaining about 1% and the S&P 500 inching up, as traders weighed incoming tech reports and a likely Federal Reserve policy move.
Information technology again led sector gains, while real estate lagged the session, reflecting a narrow leadership that has pushed indexes toward fresh peaks.
The market mood was also lifted by Nvidia’s march past a $5 trillion valuation earlier in the day, underscoring continued investor appetite for AI-related names and boosting sentiment for megacap tech stocks.
Analysts said expectations for sustained cloud growth and heavy AI spending were helping drive demand for Alphabet ahead of its report, though they urged caution given the usual volatility around big tech earnings.
