Google parent company Alphabet surpasses Apple in market value
Early on Tuesday morning, Google’s parent company Alphabet overtook Apple to become the world’s most valuable company.
At around 6:45 a.m. PST, Alphabet had a market value of just over $547 billion, while Apple is hovering around $530 billion.
Valuations have since balanced out: Alphabet is worth nearly $529 billion, and Apple is hovering at just over $532 billion at the time of publication.
The last time this happened was in February of 2010, according to CNBC, and both companies were then valued at less than half their current amount.
For context, the iPad hadn’t yet been released, the newest iPhone was the 3GS and Steve Jobs was still Apple’s leader.
Reuters is saying, however, that while Alphabet has temporarily won the battle of the bottom lines, they likely won’t win the war.
The media outlet is reporting that while Alphabet is on track to be valued at $734 billion in the next year, Apple could hit $1.1 trillion.
Let that sink in: $1.1 trillion! It would be the first publicly listed company to be worth more than $1 trillion.
At one point, Apple was worth $400 billion more than Google.