Alphabet Inc, the parent company of Google, saw its market value exceed that of Apple Inc for the first time since 2019, as shares rose on Wednesday.
Alphabet’s market capitalization closed at $3.88 trillion, with its shares rising more than 2% to $322.03. Meanwhile, Apple’s market value closed at $3.84 trillion after its shares fell more than 4% over the past five trading days.
The shift marks a notable moment in the technology sector, highlighting Alphabet’s recovery and investor confidence following a period of stronger performance in its core advertising business and cloud services. Apple, meanwhile, has faced headwinds from slowing iPhone sales and broader market volatility.
Alphabet’s gain comes as investors weigh the company’s continued growth in digital advertising, artificial intelligence initiatives, and cloud computing expansion. Analysts said the milestone underscores the competitiveness of Big Tech firms in maintaining market leadership amid shifting investor sentiment.
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