Alphabet eyes $2 trillion value after blowout results

FILE PHOTO: A sign is seen at the entrance to the Google retail store in the Chelsea neighborhood of New York City, U.S., June 17, 2021. REUTERS/Shannon Stapleton

(Reuters) - Google parent company Alphabet Inc advanced nearer to joining peers Apple Inc and Microsoft Corp in the elite $2 trillion market valuation club on Wednesday as the search giant's shares surged more than 8% following a blowout quarterly report.

Last trading at about $2,975, Alphabet's stock was on track for its largest one-day percentage gain in almost two years, easing concerns around owning Big Tech following a sector-wide selloff in the past few weeks.