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Those Google or shall I say Alphabet fans out there would be happy to know that today is a big day for you guys. Alphabet (parent company of Google) beat Apple to be the most valuable company in the world! Rejoice or I should say rejoice to investors of Google.
So how did Google suddenly beat Apple? Well, Google had its earnings call today and it smashed analyst expectations. Google had a revenue $21.3 billion and analyst were expecting $20.8 billion, which is really high when comparing to Wall Street expectations.
The news of revenue made Google jump up 8% of its market capitalization to a staggering $558 billion beating Apple’s $535 billion.
When comparing Google to Apple, the difference is clear; for the last 12 months Apple stocks have been going down while Google’s (Alphabet’s) have been going up.
While Google does beat Apple but it’s probably not going to stay as the most valuable company in the world for too long. Apple’s up-coming products are going to give it a boost and make it the top company again. This has happened in the past again.