Alphabet, not Apple, is world's most valuable firm

February 02, 2016 11:28

Alphabet, search giant Google's parent, has finally dislodged Apple as the world's most valuable firm based on value of shares. But the time to pop the bubbly may still be some time away.

Riding on its much better-than-expected results in its latest quarterly earning report, which rose five per cent to USD 4.92 billion, Alphabet was estimated to be worth USD 530.1 billion, compared to Apple's USD 534.7 billion.

But what put the California-based Internet search giant ahead was that its shares soared in after-hours trading to reach USD 791.

If these gains hold later today, when New York's Nasdaq opens, Alphabet would officially overtake Apple as the world's biggest company by market value.

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