Alphabet became the fourth U.S. technology company to reach $1 trillion in market value, as Big Tech becomes an ever bigger part of the economy.
last week for patent infringement. The complaint alleges that Google copied Sonos's technology for wireless speaker systems while the two companies were working together as early as 2013. Google disputes the claims.
The bigger story Sonos tells in the filing is one that surely resonates with thousands of smaller tech companies struggling to survive in a world where Google, Amazon and Apple can sell products at a loss, killing competitors along the way while sucking vast amounts of data into their orbit.
Even with Alphabet expanding its enterprise software business and building up its roster of gadgets, the ad division continues to chug along and pump out cash. Advertising revenue climbed 17% in the third quarter to $33.9 billion, and Google is gearing up for an event-filled 2020.
"This is a big year for global advertising," said Mahaney, who has a buy rating on both stocks. "All those are big advertising events. There are two companies I look at — Facebook and Google — that are clear derivative plays off that. Fundamentally, we think they're really well set up for the year and the quarter."
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