Google’s Holding company Alphabet on Tuesday overtook Apple to become the most valuable publicly traded company in the world. Alphabet Market cap rose to around $570 billion as against Apple’s $534 billion. This is reportedly the first time When Google’s value has exceeded that of Apple’s Since 2009.
Alphabet quarterly net profit up 4% to $4.9 billion.
It is not however the first time that Google has been considered more valuable than Apple. But the last time the shift occurred was back in February 2010 when both companies were worth less than $200 billion. Of course, then, Apple had yet to release their first iPad, and the current iPhone on the market was the 3GS, and the humble Mac was still the company’s biggest production item, accounting for one-third of revenue. Steve Jobs was also still at the helm.
The news has surprised some in the industry. Alphabet had worried investors over the sheer number of technology gambles it has been part of in recent years; such as helium powered Internet ballons, driverless cars, and the eponymous Google Glass.
Apple and Google have overtaken each other Several times over the years, especially between 2008 and 2010. Then Apple dominated for the next 5 years, rocketing from a value of $180 billion to$650 billion by the end of 2012. In September of that year, Apple were worth $400 billion more than Google. flopped multiple times between 2008 and early 2010, before Apple went on a historic tear, jumping from $180 billion in value to over $650 billion in September 2012. Apple only assumed the most valuable company in the world title in 2011, when it pipped Exon to the prize.