ALPABET SURPASSES APPLE IN VALUE

Google parent company Alphabet yesterday overtook Apple as the most valuable publicly traded company in the world with a market cap just south of $565 billion, according to The Wall Street Journal. Apple’s cap is $539 billion. The upward move occurred in after-hours trading following a better-than-expected earnings report.

While Alphabet is now the biggest company by full market value, the market cap for shares traded on the S&P 500 is $483 billion, 10% below Apple’s $539 billion.

Alphabet is the 12th company to become the S&P 500’s most valuable company, according to Howard Silverblatt, senior index analyst at S&P Dow Jones Indices. Other companies that have held the crown include Exxon Mobil, IBM and Microsoft.