Technology

Google May Pass Apple in Market Cap to Become Most Valuable Company

Douglas A. McIntyre

Published: April 27, 2016 6:55 am

Last Updated: January 13, 2020 10:15 am

Apple Inc.’s (NASDAQ: AAPL) disappointing fiscal second-quarter numbers knocked its market value down to $574 billion as shares fell to $97. That may not be the end of the drop. Apple’s 52-week low is $92. When it disappointed investors in May 2014, shares dropped to $84. That price took its market cap to $462 billion, below Alphabet Inc. (NASDAQ: GOOGL), Google’s parent, which was $486. Apple may soon lose its crown as the world’s most valuable company.

Apple’s market cap dropped below Alphabet’s this past February (various calculations of share price times shares outstanding make these figures slightly different) offering a precedent.

While Apple’s share price has dropped much of this year, Alphabet’s has been mostly higher. Its stock is up 28% during the past year. At $708, it is below an all-time high of $790. Alphabet did miss numbers last quarter. So there is a race with Apple for market cap. This may be decided if the iPhone 7 introduction, likely in September, is a bust and Alphabet posts strong numbers for the current quarter.

Alphabet has a better than even chance of passing Apple in market value in the next several months.