Google’s parent company Alphabet becomes most valuable, pushes Apple on number two
Alphabet Inc., Google’s parent company is all set to become the most valuable on planet by moving ahead of the Apple. It’s after hours’ levels on the wall street predicted that the market capitalization of the Google Alphabet will be $570 billion soon. The Apple has market cap of around $535 billion. The after-hour levels are not the final word over the situation but considered as an indication.
It is not a first time that the Google is going ahead of the Apple. Back in February 2010, the Google had more market capitalization than Apple. But both companies were valued below $200 billion. This was pre-iPad era where Apple was selling iPhone 3GS to consumers. Apple’s profit mostly came from the Macintosh ecosystem. The Steve Jobs was the CEO of company.
Eric Schmidt was handling Google as a CEO back then. Looking at these numbers, both companies have grown more than twice in last few years due to explosion in the mobile ecosystem.
The Apple sales took a leap forward after 2010 due to the introduction of revolutionary iPad and ground breaking innovation in the iPhone. The iPhone started driving profit for Apple and growing smartphone ecosystem supported that. For the first time, Apple reported market capitalization of $650 billion during September 2012. It was well ahead of Google by whooping $400 billion. It already became most valued company on the planet by pushing Exxon on second position.
The iPhone craze worked really well for the Apple. But looks like Google has started receiving benefits from its android and other platforms. The latest data predicts that the Google share prices have increased by 44 percent while Apple saw sharp decline of 16 percent.
The experts predict that the problem with the Apple is that they are too much dependent on iPhone for profits. The Google gets profit from advertising but it has been trying hard to diversify revenue sources. Apple may think new revenue strategy now as it is behind Google’s parent company Alphabet.
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