Apple Inc. (AAPL) has long been the king of the stock market. Ever since it took down Exxon Mobil (XOM) for the final time in 2013, the iPhone giant has held the title as largest company…until now.
On Monday, Alphabet Inc, formerly known as Google, took down the champ. After reporting impressive earnings numbers that afternoon, the company’s two stock classes (GOOG, GOOGL) combined for a market cap of approximately $547 billion while Apple fell to second place at about $529 billion (via CNBC). Market cap measures total company value by multiplying the current share price by the number of outstanding shares.
While Apple has taken back the number one spot after Alphabet lost its boost in value the past couple days, it is clear the two companies both want to be the best. Apple has been fighting a falling share price over the past year due to concerning iPhone sales while Alphabet continues to invest extensively in R&D to fuel growth. It is a race to be the first public $1 trillion dollar company, one that will certainly keep center stage for years to come.
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