Google parent company Alphabet has taken away Apple’s title as the most valuable company in the world by reaching a market value of about $544 billion in after-hours trading today.
Alphabet closed Monday at around $518 billion, but its after-hours stock spike means that it’s bigger — for now. We’ll see if it maintains that at tomorrow’s open.
Apple passed Exxon Mobil in 2011 to become the most valuable public company in the world, worth around $350 billion, before falling to about $538 billion at today’s close.
The changing of the guard here has less to do with an ascendant Alphabet and more to do with Apple’s iPhone sales, which are beginning to slow down. When Cupertino released its earnings report last week, it posted its slowest growth in phone sales since Apple introduced the iPhone in 2007.
This article originally appeared on Recode.net.
Will you support Vox’s explanatory journalism?
Most news outlets make their money through advertising or subscriptions. But when it comes to what we’re trying to do at Vox, there are a couple of big issues with relying on ads and subscriptions to keep the lights on:
First, advertising dollars go up and down with the economy. We often only know a few months out what our advertising revenue will be, which makes it hard to plan ahead.
Second, we’re not in the subscriptions business. Vox is here to help everyone understand the complex issues shaping the world — not just the people who can afford to pay for a subscription. We believe that’s an important part of building a more equal society. And we can’t do that if we have a paywall.
So even though advertising is still our biggest source of revenue, we also seek grants and reader support. (And no matter how our work is funded, we have strict guidelines on editorial independence.)
If you also believe that everyone deserves access to trusted high-quality information, will you make a gift to Vox today? Any amount helps.
Yes, I'll give $5/month
Yes, I'll give $5/month
We accept credit card, Apple Pay, and
Google Pay. You can also contribute via