Google's parent Alphabet takes Apple's spot as world's most valuable company
Alphabet, the parent company of Google, has surpassed Apple as the most valuable company in the world.
Alphabet became the world’s largest publicly traded company on Tuesday, Feb. 2, due to a spike in its share price, The Guardian reported.
The accomplishment came after the company achieved remarkably good results and implemented its decision to be completely honest about the way it gets and spends its money.
Alphabet is now valued at $548 billion while Apple’s at $534 billion.
Since Google became Alphabet six months ago, its cap has risen by $200 billion (£139 billion), almost doubling its total value.
Google announced August 2015 that the merge is expected to allow its different businesses to operate independently and move faster.
The restructure is considered a smart business move that benefited the leading tech company from simply bringing all of its businesses under one umbrella.
Credit: Mark Lennihan/AP