Alphabet crosses Apple as world’s most valuable company

Recently, we brought you a chart explain the structure of Google’s new parent company ALPHABET. Now, we have got some more exciting news to share with you. On Monday, 1st February 2016, Alphabet has surpassed Apple in market capitalization during trading. This makes it the most valuable publicly traded company in the world.

During the last four years, Apple has completed dominated in this regards however its shares’ prices have been decreasing. Even release of latest iPhones by Apple did not help the situation. The company reported decline in iPhone sales in its latest quarterly report. Additionally, Apple expected iPhone sales to further decline in current ongoing quarter.

On the other hand, major Alphabet companies including Google reported strong revenues growth despite of loss in few companies. All these conditions help Google’s new parent company in exceeding Apple. The value of Alphabet now stands at $568 billion which was about $400 billion at the start of 2015 (Google). Apple weighed in at about $774 billion in February 2015 and has now slipped to $535 billion.

It is the first financial figure released by Alphabet company since its establishment in October 2015. There was always a question whether the decision to reorganize will help the Google or not. The answer is finally here; it has helped Google in financial aspects. It has now got a net income score of $8.67 per share exceeding Wall Street’s estimated score of $8.10. Alphabet was able to generate $16.3 billion in revenues that is a 24 percent increase. The stocks have increased by 8 percent.

It is interesting to note that Apple beat Microsoft as world’s most valuable company back in 2010. And now, Alphabet has taken the throne. Let’s see till how long the company keep this spot.

SOURCE: SiliconBeat