After five years at the top, Apple is no longer the world's most highly valued public company. Alphabet, the newly reorganized parent company of Google, now claims that title, reports CNBC.
As of 9:45 a.m. EST Tuesday, Alphabet's market capitalization was $547.1 billion, passing Apple's $529.3 billion, according to the report.
Google hasn't been more valuable than Apple since 2010, according to the report, and at that time, both companies were worth less than $200 billion. Apple became the world's most valuable company in 2011, when its $337.2 billion market value surpassed Exxon's $330.8 billion, according to a Bloomberg report.
http://www.bloomberg.com/news/articles/2011-08-09/apple-rises-from-near-bankruptcy-to-become-most-valuable-company
According to the CNBC report, Google was more valuable than Apple from 2004 to 2008, but Apple started seeing massive growth following the release of the iPhone in 2007.
The latest Google/Apple valuation switch began in July 2015, CNBC reports. From July to the end of the year, Google's shares grew 44 percent, and Apple's fell 16 percent.
Editor's note: Various reports indicated different market capitalization and market value numbers for the two companies. Bloomberg reported Alphabet's market capitalization at $531 billion and Apple's market value at $523.9 billion. This news release cited Alphabet valuation of $546.8 billion and Apple's market capitalization at $530.9 billion.
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