Google Becomes World’s Most Valuable Company
Alphabet, Google’s parent company, has recently surpassed Apple and became the most expensive company in the world. Alphabet’s market capitalization is now equal to about $498.56 billion while the one of Apple is about $496.69 billion. Apple’s position has become much worse over the last couple of weeks because of the first decline in iPhone sales in the history. Even more, weak iPhone, iPad and Mac sales still continue to influence Apple’s market capitalization.
Google overtook Apple as the most valuable company in February, however, Apple has regained its status pretty quickly. Unfortunately, this time it won’t be so easy for Apple to make a comeback.
Apple is often prided with the title of most valuable company in the world, but its stock has taken a hit over the last few weeks after reporting its first ever year-over-year decline in iPhone sales. China in particular has been an issue for investors like billionaire Carl Icahn who once saw the region as a growth opportunity for Apple but has since dumped his wealth of AAPL stock citing concerns there.
Apple is definitely having a hard time these days. Hopefully, new product launches and changes in marketing strategy will help the company to regain its position and become the most expensive company in the world.
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