Google has overtaken Apple as the world’s most valuable technology company, according to one interpretation of the figures that is.
While Apple might have far more cash in the bank than its bitter rival, latest figures have suggested Google’s operating worth has exceeded that of the iPhone 5 and iPad mini maker for the first time.
According to figures collated by the Wall Street Journal, Apple has an overall valuation of $378 billion (£245bn) compared with Google’s $286 billion (£185bn) market cap. However, it has been suggested that withdrawing the two companies’ respective cash reserves from these figures sees Google line up as a more valuable company that Apple.
While Apple has a staggering $145 billion (£94bn) in cash hidden under its mattress, Google is ‘only’ sitting on $45 billion (£29bn). Taking this from the company’s total valuation sees Google edge Apple in operational worth, $241 billion (£157bn) to $233 billion (£152bn). Put simply, Google’s products and services are now seen as to be of a higher value than those offered by Apple, a standpoint that is sure to concern the Cupertino based company.
Having eclipsed a half a trillion dollar valuation late last year, Apple’s valuation has been in free-fall for a number of months. Formerly the biggest company in the world in terms of valuation, Apple recently surrendered this crown to oil giant, Exxon Mobil.
Although losing the title as the world’s most valuable company could have dented Apple’s pride, the impending presence of Google is sure to be of more concern.
Having dominated the smartphone and tablet sectors for so long, Apple in the past year has seen its market shares slip as Google’s Android operating system has risen to become a prominent force. With the iPhone 5 failing to take the same stranglehold on the smartphone sector as past Apple handsets, the Android powered likes of the Samsung Galaxy S4 and HTC One have become the new ‘must-have’ handsets.
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