Tech giant Google dropped a shocker on all of us last year by declaring its parent company Alphabet. And, now the company has successfully occupied the top position on the list of world’s most valuable companies, dethroning Apple from the valuable position.
It seems, it’s now the fight of the two big A’s.
In early trading on Tuesday, 2nd Feb, Google’s Alphabet pulled ahead of Apple.
Google’s parent company first acquired the numero uno position on the 1st of the second month this year during Monday’s extended session following its excellent fourth-quarter earnings. Meanwhile, Apple Inc.’s iPhone has its first downturn since it debut eight years ago.
Alphabet’s shares increased by about 4 percent in the first regular hours of trading, this helped in pushing the company’s market capitalisation to a whopping $539 billion. With the constant rumours about investors being unhappy about iPhone sales, Apple ended up dropping its market capitalisation to a mere $530 billion, behind Google’s Alphabet’s $539 billion.
Google has formed a new parent company of its own in August last year, which it named it – ‘Alphabet’
Take a bow, Alphabet.