Apple recoups world’s most valuable company title from Alphabet
Based on Google’s more than healthy recent financial report, and generally gloomy iPhone sales predictions for at least the current quarter, we wouldn’t have been shocked to see Alphabet exceeding Apple’s market capitalization through summer or even fall.
But the simultaneous iPhone 5se/Apple Watch S/iPad Air 3 announcement is drawing near, and Wall Street clearly trusts the three new iDevices will strike gold at the box-office, covering for the waning mainstream appeal of the first-gen “iWatch”, as well as the overly familiar iPhone 6s and 6s Plus.
Either that, or traders simply want to believe in the Cupertino tech giant’s dominant worth, regardless of the competition’s obvious progresses. It literally took Apple mere hours to dethrone Google’s parent company from the top market cap spot, and while a bit of back and forth between the two remains a possibility for the near future, the present-day leader could also widen the gap to second place.
At $537 billion, AAPL outstrips GOOG by around $37B, with a stock quote of $96.35, up 2 percent in the past 24 hours as of this writing, compared to $726.95, down almost 5 percent. Microsoft and Facebook, the third and fourth most valuable companies in the world right now, have both lost steam too, but each in the 1 – 2 percent range, with estimated overall worth of $416 and $318 billion respectively.