This hasn't changed the trend. Investors are still paying 250% more for Google earnings than for those of Apple. They're paying almost $6 for every $1 of Google sales and less than $3 for every $1 of Apple sales. The reason given for the divergence is growth. Apple's sales figures for the quarter ending in March, 2013 were only about 10% higher than those for the previous March. Google sales were up nearly 35%, year over year. Both companies offer similar profit margins of 25%, but Google's are on an uptick and Apple's have been trending down. The argument is that Google is growing faster, that its margins are expanding while Apple's are contracting. That's true, but it still doesn't explain such a huge divergence. Such arguments are usually made to explain what has happened. You make money from what will happen.
What I know is that Apple, which before the divergence seemed to be run in order to please itself, is now trying very hard to please investors and consumers. The company has dumped a great load of cash on shareholders, is buying back stock as fast as it can, and now reportedly plans to launch dirt-cheap iPhones and phablets by the end of the year, USA Today reports. Google, meanwhile, has been teasing a Glass product that may flop completely in the mass market, it has tied products together to control users, and it has begun running afoul of governments on both sides of the Atlantic.