At the end of the fourth quarter in 2015, Google’s parent company Alphabet has dethroned Apple as the top company in the world on Monday in after-hours trading. If this keeps up then Alphabet’s market capitalization is set to reach $540 Billion. At market’s close, Google was trading at $752. It is currently trading just shy of $800. Apple has been the most valuable company in the world for three years running after taking over from Exxon Mobil. The strong performance of Alphabet had led many to believe that they would take the top spot soon.
At the closing of the markets Google had $517.6 billion in market capitalization while Apple was at $538.7 billion. After hours though Google seemed to have obtained a sizable boost which made it big enough to take the top spot from Apple for the first time since 2010.
Apple has raked in$75.9 billion for a record-breaking first quarter but there are worries about growth with sales falling for their star product, the iPhone. On the quarterly conference call for this fiscal portion of 2016 Apple CEO, Tim Cook predicted that there would be a down swing in iPhone sales in March. If the prediction comes true then this will be the first time since the inception of the iPhone that sales have ever gone down. However, the CEO remains hopeful about sales in the future despite claims that the iPhone has cooled as a product.
Alphabet is seeing tremendous gains across the board when it comes to growth in advertising. Google CEO Sundar Pichai has pointed out that Gmail now has more than 1 billion active monthly users. Google’s “moonshot projects” — Wi-Fi balloons, self-driving cars, glucose-reading contact lenses, human longevity have seen advances but have cost upwards of $4 Billion for the company in the tail end of 2015.
Apple has started to lose its foothold on the world market after being the world’s most valuable company. They first launched themselves into the position in 2011 and all throughout 2012 before being unseated in 2013 only to take the lead again later that year.