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Google redeems spot as world’s most valuable company
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Google is previewing the next version of its Android operating system two months ahead of schedule in an effort to get the upgraded software on more mobile devices. (Shutterstock.com/Asif Islam)
Again, tech giant Google dethroned Apple as the ‘World’s Most Valuable Company’ by market capitalization.
Apple, Google’s competitor in the tech industry, experienced their shares sink below US$90 on Thursday, the first time since June 2014. As a result, Google’s parent company, Alphabet, overtook Apple on the same day.
Alphabet’s market valuation peaked at $498 billion, compared to Apple’s $494 billion, CNN Money and Time noted.
Alphabet previously overtook Google last February.
(Read also: EU takes on Google with Android antitrust investigation)
For the past six months, Apple’s shares dropped nearly 20 percent due to the decline of iPhone-chip shipments, one of the company’s trademark products since 2007.
Other tech titans, Intel and Microsoft, also declared disappointing slump in sales this quarter. Reversely, social media giant Facebook and online shopping site Amazon bolstered higher earnings this quarter.
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