Google’s self-generated parent company Alphabet is now more valuable than Apple.
According to its most recent earnings, Alphabet’s market capitalization is at $570 billion, which edges out Apple’s $535 billion valuation.
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It’s not really new, though. In 2010, Google (without a parent company!) was worth more than Apple, though the valuation of both companies was less than half of what it is today.
This comes as Apple’s latest earnings put iPhone sales — it’s largest metric — plateauing. Apple is expected to have a March event where it could announce an iPad Air 3, though that may not help the bottom line very much.
Oddly enough, this comes as Alphabet reports spending of $3.5 billion on its moonshot ideas, which don’t quite turn a profit yet.
➤ Google passes Apple as most valuable company [CNBC]
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