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Alphabet Just Passed Apple As The Market's Most Valuable Company

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Alphabet Just Passed Apple As The Market's Most Valuable Company
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Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL) just passed Apple Inc. (NASDAQ: AAPL) as the most valuable company, with a market reaching nearly $570 billion during Monday's after-hours session.

Alphabet reported a huge Q4 earnings beat of $8.67; consensus estimate called for earnings of $8.10 per share. The company also beat on revenue, coming in at $21.34 billion versus $20.76 billion estimates.

Alphabet shares traded recently at $813.58, up 5.4 percent after closing the day at $770.

UPDATE: Shares opened Tuesday's session at $803.59, up more than 4 percent. The stock's market cap is now around $539 billion, compared to Apple's $530 billion. Apple was trading down less than 1 percent shortly after the bell.

Related Link: Alphabet's 'Other Bets' Category Lost $3.6 Billion Last Year, Grew Revenue 37-Fold Since 2013

Benzinga conducted a Twitter poll on Monday afternoon asking users which company they liked best, Apple or Google. Out of 130 votes, Alphabet's Google came out on top with 71 percent of the votes.

"The last time Google had a larger market value than Apple was January 11, 2010," Wall Street Journal's Steven Russolillo Tweeted out.

Read what analysts at JPMorgan and Axiom had to say about Alphabet.

Posted-In: Earnings News After-Hours Center Movers Tech Best of Benzinga

 

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