Some pundits are underplaying the big picture when it comes to shares of Alphabet.

Shares of Alphabet (GOOGL) climbed Thursday, a day after the Google parent posted better-than-expected earnings and said it would boost its capital spending this year by $10 billion. The company's Class A shares,

Most leaders in the tech industry owe their wealth to founding equity stakes in their platforms, which Google’s Sundar Pichai does not have.

JPMorgan Chase is an advertising partner of Motley Fool Money. Adam Spatacco has positions in Alphabet and Nvidia. The Motley Fool has positions in and recommends Alphabet, Goldman Sachs Group, JPMorgan Chase, and Nvidia. The Motley Fool has a disclosure policy.

The S&P 500 and Nasdaq traded near all-time highs at midday as a strong earnings report from Alphabet lifted big tech stocks.

Sundar Pichai's fortune could have increased by a billion dollars had he chosen to hold onto Google shares sold over the past decade.

We recently published 9 Stocks Jim Cramer Discussed As He Commented On Big Tech. Alphabet Inc. (NASDAQ:GOOGL) is one of the stocks Jim Cramer recently discussed.

For me, the main stock story on Opening Bid today was Alphabet. The numbers were so strong that one has to wonder why the stock didn't gain more — especially considering shares trade at a discounted forward PE ratio relative to the S&P 500 ( ^GSPC ).