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02/02/2016 12:39 PM ID: 102611 Permalink   

Alphabet Passes Apple to Become Most Valuable Company


Alphabet, the holding company for Google, surpassed Apple as the most valuable company in the world. It was announced that its shares (GOOGL) were up more than six percent in after-hours trading.

Alphabet is now worth $554 billion compared to Apple’s $538 billion. Jan Dawson, chief analyst with Jackdaw Research, however, says Alphabet´s lead may only be temporary.

"The reality is that Apple is going through a period in its history where revenues are temporarily dipping, not going through some sort of terminal decline," he explains.

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