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You are here: MacNN Forums > News > Tech News > Apple drops below $400B in worth, Google surpasses $300B

Apple drops below $400B in worth, Google surpasses $300B
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MacNN Staff
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May 15, 2013, 04:46 PM
 
Apple and Google both passed important financial milestones during Wednesday trading, notes The Next Web. While Apple's market value has fallen under $400 billion, Google's value has climbed over $300 billion. The surge in the latter company's worth is being linked to today's Google I/O keynote, where the company showcased several new products, services, and features, such as unified messaging and a Galaxy S4 with stock Android.

Apple does however remain firmly ahead of Google in terms of earnings. The former trades at a valuation approximately one third higher than Google's, with a P/E (price-earnings) ratio just 37 percent as big. Essentially, each dollar of Google profit is valued more highly, as the market expects the company to grow faster.

During the past year, Apple's fortunes have both peaked and undergone a precipitous decline. At one point, in September 2012, shares were trading at $705 apiece; that price has since plummeted to roughly $428. iPhone 5 sales and more conservative guidance from Apple are believed to be among contributing factors.
     
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May 15, 2013, 05:10 PM
 
It closed the day above $400 Billion, and is continuing to climb after hours...
     
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May 15, 2013, 07:01 PM
 
The crazy thing is Google doesn't really have anything of value. They "give away" their version of free software and operate as a search engine and advertising company. All they have are people. They really don't produce anything.
     
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May 15, 2013, 10:03 PM
 
As usual, the market rewards crooks who make knockoffs.
     
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May 15, 2013, 11:21 PM
 
And the Goog paid 16.7% of that to the DOJ for illegal drug trafficking?!? Does that make Google the biggest cartel in the world? Well, at least we got Jellybean 4.2.2.
     
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May 16, 2013, 02:02 AM
 
Originally Posted by prl99 View Post
The crazy thing is Google doesn't really have anything of value. They "give away" their version of free software and operate as a search engine and advertising company. All they have are people. They really don't produce anything.
Android.
     
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May 16, 2013, 02:18 AM
 
Yes, he specifically mentioned that.
     
   
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