Again, tech giant Google dethroned Apple as the ‘World’s Most Valuable Company’ by market capitalization.
Apple, Google’s competitor in the tech industry, experienced their shares sink below $90 (4,192 PHP) on Thursday, the first time since June 2014. As a result, Google’s parent company, Alphabet, overtook Apple on the same day.
READ: Alphabet overtakes Apple as world’s most valuable company
Alphabet’s market valuation peaked at $498 billion (23.1 trillion PHP) , compared to Apple’s $494 billion (23 trillion PHP), CNN Money and Time noted.
READ: Google parent Alphabet may soon top Apple’s market value
Alphabet previously overtook Google last February.
For the past six months, Apple’s shares dropped nearly 20 percent due to the decline of iPhone-chip shipments, one of the company’s trademark products since 2007.
Other tech titans, Intel and Microsoft, also declared disappointing slump in sales this quarter. Reversely, social media giant Facebook and online shopping site Amazon bolstered higher earnings this quarter. Gianna Francesca Catolico