Alphabet is nearing a $4 trillion market valuation, driven by new chip deals, strong momentum for its Gemini AI model, and robust third-quarter results. The company's stock has surged 127% from its lows in early April, rising in 24 of the last 33 weeks. A recent bullish technical pattern, a morning-star formation, was also completed, signaling positive momentum. This strong performance is a primary driver for the overall Communication Services sector's solid gains this year.