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Alphabet overtakes Apple with the highest stock value in International Market
Posted on: 04/Feb/2016 6:49:34 PM
Google`s founding company Alphabet has overtaken Apple to hold the highest stock value in international market.
Alphabet`s last quarter (ending December) saw profits increase to $ 490 Crores.
Immediately following this announcement, the company`s share values shot up by 9 percent.
The international market value rose to $ 56800 Crores. Apple market value stands at $ 53500 Crores.
The CFO (Chief Financial Officer) of Alphabet informed that the advertisement revenue of Google continued increasing.
Earlier, the international market value of Apple had reached up to $ 76000 Crores. During the year 2010, Google`s international market value had crossed Apple`s. At that time, both th companies were worth $ 20000 Crores. Steve Jobs was alive at that period. That was the period when Apple was set to release iPad.
However, presently, two-thirds of Apple`s revenue is earned from iPhone. Experts view this as a potentially big problem.
Google was enlisted in the international market in 2004. Alphabet is the 12th company to enjoy the No. 1 position in the famous S&P (Standard & Poor`s) list relating to stocks & Bonds.
The other companies to enjoy No. 1 status earlier include General Electric, General Motors, IBM, Exxon, Mobil, and Microsoft.
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