For a while now, Apple has been the world’s most valuable company. The company has just been dethroned from this post with Alphabet, an Umbrella company that Google falls under. This company has been around for about 6 months and owns a bunch of other companies out there.
Read More: Why Google Is Restructuring Under a New Umbrella Company Called Alphabet
Alphabet released its Q4 2015 earnings yesterday which were positive and these helped the company’s stock price to shoot up. The stock price rose so much and the overall value of the company surpassed Apple’s value.
Apple seems to be slowing down and isn’t growing as fast as it used to or as investors had expected. This was expected at some point as the company has been growing very rapidly the last couple of years.
Back to Alphabet, the company saw its year-over-year revenue to grow by 24%.
“Our very strong revenue growth in Q4 reflects the vibrancy of our business, driven by mobile search as well as YouTube and programmatic advertising, all areas in which we’ve been investing for many years. We’re excited about the opportunities we have across Google and Other Bets to use technology to improve the lives of billions of people,” said Ruth Porat, CFO of Alphabet.