In case you don’t know, Alphabet, the company that owns Google is now the most valuable public company in the world. The most valuable public companies in the world are now majorly in the tech sector. Google and Apple are in a category of their own with market values of $543 billion and $535 billion respectively -- heights never before reached in corporate history. Behind those two companies sits Microsoft at $433 billion. Facebook, at $328 billion, took fourth on Monday, surpassing Exxon Mobile ($318 billion).
Alphabet took over the title of the most valuable company in the world in after-hours trading on Monday, unseating Apple, and beating analyst expectations in its latest earnings report.
The transition between tech titans comes days after Apple reported the slowest-ever sales growth for the iPhone and revealed that its business in China is facing headwinds. In contrast, Alphabet makes very little money off hardware and does almost no business in China.
When China was seeing double-digit economic growth, Apple’s burgeoning business there was seen as strength. But investors have been punishing Apple’s stock since a dramatic slowdown began to play out in China and the U.S. dollar gained strength, which devalued sales made in foreign currencies. Apple's stock has fallen more than 27 percent since July.
Looking at the trend lines, Alphabet will most likely become the world's first trillion-dollar company. There are no signs of them slowing down anytime soon,