Tags: alphabet | most valuable | apple | google

Alphabet Most Valuable Company After Dethroning Apple

Image: Alphabet Most Valuable Company After Dethroning Apple
In this Nov. 12, 2015, file photo, a man walks past a building on the Google campus in Mountain View, California. Alphabet Inc., Google's holding company, reported financial results Monday, Feb. 1, 2016. (AP Photo/Jeff Chiu, File)

By    |   Tuesday, 02 Feb 2016 12:32 PM

Alphabet is the most valuable public company in the world after surpassing rival Apple on Tuesday.

"Alphabet has a market cap of $547.1 billion, higher than Apple's $529.3 billion as of 9:45 a.m. ET," CNBC reported.

In after-hours trading the night before, Alphabet hit $570 billion, out-maneuvering Apple's roughly $535 billion.

"This makes Alphabet an even stronger bellwether for investors to watch," Scott Fullman, chief strategist at Revere Securities Corp, said Monday, according to Reuters

"The company has been tracking very well given the volatility in the market, dominated by falling energy prices and weakness from China."

Google, which became a subsidiary of holding company Alphabet last year, was once more valuable than Apple six years ago, in February 2010. Back then, each company was worth less than $200 billion.

As recently as early 2015, Apple was worth more than $760 billion.

Since 1928, Alphabet is the twelfth company to be recognized as the largest U.S. name to be publically traded. Past names include General Electric, General Motors, and IBM.

As of late, many investors have worried that Apple has become too dependent on revenue from the iPhone, which accounts for two-thirds of its total. Meanwhile, Google is still far outpacing Facebook in its dominance over the mobile ad market.

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
TheWire
Alphabet is the most valuable public company in the world after surpassing rival Apple on Tuesday.
alphabet, most valuable, apple, google
212
2016-32-02
Tuesday, 02 Feb 2016 12:32 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved