Alphabet Overtakes Apple as World’s Most Valuable Company

Alphabet Inc, Google’s parent company, briefly overtook Apple as the world’s most valuable company on Tuesday – a title that Apple held for over four years.

Alphabet reported its fourth-quarter earnings on Monday night after the stock market had closed, and earnings were much higher than expected. As a result, after hours trading pushed the stock up almost 8% overnight. With Apple’s stock dropping 1%, Alphabet opened Tuesday as the world’s most valuable company. At noon Tuesday, Alphabet was valued at $548 billion to Apple’s $534 billion.

Apple had reclaimed the throne by closing on Tuesday, and still holds a slight edge over Alphabet, but the two stocks have been neck-and-neck since Monday evening. Tuesday’s valuation marked the first time since 2010 that Google was more valuable than Apple. Both companies were, at the time, worth less than $200 billion, and Apple had yet to release the first-generation iPad.

Although Apple has topped the list for four years now, their stock has been on a downward slide since last July. In contrast, Alphabet’s stock has soared since the same time period, making large jumps in July and November of last year. However, according to The Guardian, analysts are predicting that Alphabet’s stock will continue to soar: “Deutsche Bank raised its 12-month share price target for Alphabet to $1,080, 40% above Alphabet’s closing price on Monday.”

Apple, however, is in a bit of a slump at the moment, as demand for the company’s top earner – the iPhone, has dropped. The stock is expected to rebound this coming March, when Apple will likely introduce a new 4-inch iPhone and iPad Air 3.

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