There’s been a shake-up today in the never ending saga of comparing Apples to Android, as Alphabet, has topped the iPhone-maker as the world’s most valuable company.
That’s right, even though Apple just made more money than it ever has, Google’s new parent company now has a larger market cap on Wall Street after reporting its fourth quarter earnings.
Alphabet is worth $570 billion (about £399b, AU$805b), with much of the profits owed to Google search and Android. Apple is worth about $539 (about £377b, AU$761b) right now in after hours trading.
Google and Apple earnings explored
Alphabet has been propelled to “world’s most valuable company” status thanks to profit of $23.42 billion (about £16.39b, AU$33.07b) in 2015, after a revenue of $74.54 billion (about £52.18b, AU$105.3b).
It made more money in the latest quarter than Apple, but the bigger difference that investors have seen Apple as heavily reliant on iPhone sales, whereas Alphabet is a bit more diversified.
Google’s reliance on search, Android, YouTube and the cloud offset some of the wilder revenue sinkholes of Alphabet. Moonshots, listed as “other bets” lost it $3.56 billion (about £2.49b, AU$5.02b)
Apple, meanwhile, only saw a modest growth in its cash cow, iPhone sales, with revenue up a meager 1% year-over-year, even with 74.4 million iPhones sold in the latest quarter.