Alphabet (GOOGL) Market Cap Surpasses Apple's
NEW YORK (TheStreet) -- Alphabet (GOOGL) - Get Report stock is down 0.72% to $725.32 in late-morning trading on Thursday but the technology giant's market capitalization has nonetheless surpassed that of Apple (AAPL), making Alphabet the world's most valuable company.
Alphabet's market capitalization was about $507.3 billion on Thursday morning, while Apple's was $501.4 billion, Barron's reports.
Apple shares hit a fresh 52-week intraday low of $90.31 earlier today.
The stock is under pressure as investors worry about iPhone demand after the company reported its first quarterly revenue decline in 13 years. Most recently, iPhone suppliers in Asia have reported weak earnings and tepid forecasts.
(Alphabet and Apple are held in Jim Cramer's charitable trust Action Alerts PLUS. See all of his holding with a free trial.)
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of A-.
Alphabet's strengths include its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
