Apple may still be a tech giant of massive proportions, but Google’s parent company Alphabet is set to officially top Apple as the “most valuable company in the world.”
“At Monday’s after-hours levels (which technically reflect an indication, but not the real-world value), Alphabet’s market cap would roughly be $570 billion, eclipsing Apple’s current market cap of about $535 billion,” CNBC reports.
Of you’re keeping score at home, this would be the first time that Google has been more valuable than Apple since 2010.
“It’s hard to believe that Google was the more valuable company from the time of its IPO in 2004 until April 2008. Then iPhone madness began,” the report notes. “Google’s latest rise versus Apple began in July. From that point through the end of 2015, its shares soared 44 percent, while Apple’s sank 16 percent.”
“Our very strong revenue growth in Q4 reflects the vibrancy of our business, driven by mobile search as well as YouTube and programmatic advertising, all areas in which we’ve been investing for many years,” remarked Alphabet Chief Financial Officer Ruth Porat in recent public comments. “We’re excited about the opportunities we have across Google and other bets to use technology to improve the lives of billions of people.”