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.