With Apple shares dipping below $90 this morning, Google's parent company Alphabet briefly overtook Apple as the world's most valuable company hitting a market cap of $498 billion compared to Apple's market cap of $494 billion. Apple and Google shares continue to fluctuate and the two companies are neck-and-neck for the top valuation, but Google remains in the lead.
Apple's stock has seen steep declines in recent weeks, following its first ever drop in iPhone sales and its first year-over-year revenue decline since 2003. Apple's share price is down again amid rumors of weak demand for the upcoming iPhone 7 and there's no relief in sight as Apple is also expecting a revenue drop in Q3 2016.
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Apple's guidance for the quarter includes expected revenue of $41 to $43 billion and gross margin between 37.5 and 38 percent, compared to $49.6 billion revenue and gross margin of 39.7 percent in Q3 2015.
Google parent company Alphabet previously overtook Apple as the most valuable company in the world in February of 2016 following a strong Q1 2016 earnings report.
Earlier today, Apple was ranked the world's most valuable brand by Forbes, assigned a brand value of $154.1 billion compared to Google's $82.5 billion.
Top Rated Comments
(View all)Ya? Cool. Can you tell me more about Android's innovation?
NFC payments, large screen smartphones, 2k resolution, virtual reality with smartphones, fast wireless charging, USB quick charging, notification pulldown, multitasking, I can go on. I'm not saying Android invented all these features, but no other smartphone company has implemented them yetIf you want innovation, then Android is your choice.
Ya? Cool. Can you tell me more about Android's innovation?