Google’s parent company Alphabet is now valued at $498bn, overtaking Apple ($494bn) as the world’s most valuable company. However, will its lead last longer than a few days this time?
The two biggest cheeses in the tech industry have kept hold of their top two placings in company valuations, with Alphabet sneaking ahead of Apple amid somewhat troubling times for the latter.
$40bn of value was wiped off Apple shares overnight back in April when the company revealed the first-ever faltering iPhone sales figures. Revenues were still immense – Q2 generated $50.6bn – but falling $7bn below estimates is never good.
Alphabet, for its part, is hardly setting the business world alight as its valuation, although top, is faltering. In February, Alphabet overtook Apple for a few weeks before the latter regained its crown.
Google, Apple and beyond
According to reports in the US, investors in both Apple and Alphabet are concerned that they are not doing enough to contend with more rapidly-growing tech companies like Amazon and Facebook.
Neither of those two is near Alphabet or Apple just yet (both valued at $340bn), however, if there’s one thing investors like, it’s progression. Indeed, Amazon’s share value has risen by more than 20pc in the past month, while Apple (-17pc) and Alphabet (-3pc) slide.
“Unless Apple, Google and Microsoft start wowing Wall Street with new products and features, it may not be long before Jeff Bezos and Mark Zuckerberg are in charge of the two most valuable companies on the planet,” according to CNN Money.
Main Apple and Google image via Prathan Chorruangsak/Shutterstock