For a while now, Apple has been the world’s most valuable company and has been maintaining that lead for a while now. However it seems that on Monday, Alphabet (Google’s parent company, for those who are hearing about this for the first time) has managed to overthrow Apple and become the most valuable company in the world.
This is thanks to a spike of 8% in Alphabet’s stocks following an earnings report, which resulted in the company’s market cap becoming $558 billion, while Apple was sitting at $534 billion. However later the price settled, but even then it still allowed the company to maintain their lead at $544 billion, although in this case it is a lot closer to Apple’s own valuation.
That being said, whether or not Alphabet will be able to maintain the lead over Apple remains to be seen. It is possible that tomorrow Apple shares could be trading higher, or Alphabet’s shares to be trading lower, but at least for now it looks like Alphabet is wearing the crown, which we have to admit is pretty impressive.
For those who are unfamiliar, Alpha was formed last year to be the parent company of Google and various other companies that used to fall under Google’s banner, like YouTube, Android, Blogger, and Nest, just to name some of the more popular ones that most of you guys should know.