Alphabet, Google’s parent company has recently overtook Apple to grab the title of being called the world’s most valuable company, but within days it has reversed that back to Cupertino-based company. Alphablet’s Q4 2016 earnings reportedly caused enough excitement and possitive amongst investments for the company’s stock price to rise enough in after hours trading of stocks to propel the company to the top of the richie rich list. Alphabet best described as short lived as the outfit’s stock price has fallen within 48 hours later, allowing Apple Inc. to once again be officially recognized as the most valuable company based on market capitalization.
A slight dive in Alphabet stock price gave a market capitilization of $499.94 billion, after initially rising to upwards $800 of approximately 4.93-percent to $726.95. Stock price gave Alphabet a slight dive though. For the average consumer there it’s madness to accept that more than $40 billion was wiped off the value of the company in a 48hr period of time. Apple’s stock value increased by 1.98% at the same time, trading at $96.35 at close, and giving the fruit company a market capitalization of $534.22 billion. Enough to sling the company back to the top of the world’s most valuable company food chain.
It’s worth noting that Alphablet’s drop. The share value drop has been experienced by a number of companies in the technology sector, with a number of major companies all suffering similar market setbacks when trading closed yesterday leaving the financial performance lagging behind that of the previous day.
Now that Apple may once again find itself named as the world’s most valuable company, but the likehood is that both Alphabet and Apple will battle it out for that particular title with position changing in the future depending on who posts the best results. Apple’s March 2016 media event should introduce enough positivity to keep it at the top for the near future.