After hours stock valuation showed Google (Alphabet) moving above the $540 billion USD mark. This marks the first time since 2010 that Google has passed Apple in market cap.
Yesterday Alphabet released their Q4 earnings and the news has seen its stock price skyrocket. Google’s holding company has now surpassed Apple to become the most valuable company in the world. The company‘s market capitalization was $517.6 billion USD at close (yesterday), and while the price is still fluctuating after hours, Alphabet‘s market cap could go past $540 billion USD…
Apple replaced Exxon Mobil in 2011 to become the most valuable company in the world. After the results announcement yesterday, GOOG Class C stock was trading at $752 USD, but immediately shot up to $813 USD (after hours), an 8% jump. It is currently trading around $795 USD. At close yesterday Google’s market capitalization stood at $517 billion USD, short of the $538 billion USD cap of Apple. However, after hours valuation showed Google moving above the $540 billion USD mark. This marks the first time since 2010 that Google has passed Apple in market cap.
This surge has been credited to a strong Q4 (raking in $21.3 billion USD in revenue) and of course the consolidation of all the peripheral Google companies under the Alphabet umbrella. Google CEO Sundar Pichai also noted during Alphabet‘s earnings call that Gmail now has more than 1 billion active monthly users (just to keep up with Apple’s claim of having 1 billion active devices – wink-wink).
Alphabet is on the up and this is great news for consumers! No one likes a monopoly anyway…
Source: 9to5Mac
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