Apple Inc. (NASDAQ:AAPL) Takes Back The Title Of The Most Valuable Company From Alphabet Inc (NASDAQ: GOOGL)
Apple Inc. (NASDAQ:AAPL)’s share on Wednesday recorded a 2% increase while Alphabet Inc (NASDAQ: GOOGL)’s fell by nearly 5%. The dip in Alphabet’s share was the end of their short reign as the most valuable company. Alphabet released its Q4 earnings this week, its stock rose by 8% due to its strong earnings report. The jump in stock price made its market capitalization to increase over $540 billion, which led Alphabet to become the most valuable company toppling Apple.
Alphabet enjoyed two days of being the most valuable company through the near 5% dip in stock marked the return of Apple as the titleholder of the most valuable company. Alphabet had initially been trading at $726.95 but yesterday it was trading at $499.94 billion. During this same period, Apple’s shares had increased by 1.98% and were trading at $96.53. It had a market capitalization of $534.22 billion.
Wednesday was a disastrous day for not only Alphabet but also other technology firms. For instance Yahoo! Inc. (NASDAQ:YHOO) recorded a 5% drop, Amazon.com, Inc. (NASDAQ:AMZN) recorded a 4% loss, Netflix, Inc. (NASDAQ: NFLX) recorded a 1% decrease. Facebook had recorded a dip initially in the day though it stabilized during the close of the market.
The flip-flop between Apple and Alphabet is expected to continue. However, currently this can be predicted to happen soon since earning reports is always associated with a rise in stock.
Facebook recently made its earnings public and during this period, they recorded a rise in stock as well as moved up in the list of most valuable companies. Facebook overtook Exxon Mobil Corporation (NYSE:XOM) to become the fourth most valuable company. Apple became the most valuable company in 2011 when it passed Exxon Mobile. This reign is set to continue especially as the nearing March event, which will see the launch of iPhone 5SE, new Apple Watch band and iPad Air 3.
Analysts don’t expect a dazzling performance similar to the one witnessed in 2015 from the FANG (Facebook, Apple, Netflix and Google) stock. Wednesday signs were a clear sign of this though NASDAQ and FANG stocks rallied powerfully in the afternoon and gained several percentage points.