Google’s parent company, Alphabet, posted their fourth quarter earnings Monday and it looks like Wall Street loved what they saw. Google’s stock ended the day up by as much as 8 percent, taking it past Apple and making it the most valuable company in the world.
Apple had held the title of most valuable company since over taking Microsoft back in 2010, at the time Apple was worth $220 billion. Since then the IT giant (or fruit company if you’re Forrest Gump) has more than doubled in value, making Google/Alphabet’s leap even more impressive.
Alphabet’s shares have risen incredibly over the past year, today shares are up 45% on what they were 365 days ago.
Alphabet ended the day at a market capitalization of about $530 billion market cap compared to Apple at just under $535 billion. Shares of Alphabet rose from $770.77 at the close of trading to more than $815 per share after hours, driving the company’s market cap above $550 billion.
*Featured Photo (above) credit to USA TODAY Sports