Alphabet Inc overtakes Apple as world’s most valuable company
Alphabet Inc., the parent company of Google has overtaken Apple as s most valuable company in the world.
Alphabet has made a profit of $4.9 billion in the fourth quarter and was valued at 548 billion dollars followed by Apple which was valued 534 billion dollars.
The core Google businesses was largest contributor to had revenues of Alphabet which has reported revenues worth 74.5 billion dollars in 2015 and had made a profit of 23.4 billion dollars.
Earlier in 2012, Apple had overtooken Exxon Mobil to become the most valuable company in the world and in 2015 Apple became the first company to reach a market value of $700 billion.
Alphabet Inc: It came in existence in October 2015, after search engine giant Google had announced Alphabet as its parent company. It was formed as part of Google’s new organisational structure. The parent company encompass all other earlier subsidiaries and products of Google under its umbrella.
Categories: Business & Economy Current Affairs 2017