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Apple drops below $400B in worth, Google surpasses $300B
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MacNN Staff
Join Date: Jul 2012
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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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Junior Member
Join Date: Feb 2006
Location: Canada
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It closed the day above $400 Billion, and is continuing to climb after hours...
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Senior User
Join Date: Mar 2009
Location: pacific northwest
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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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Dedicated MacNNer
Join Date: Jul 2009
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As usual, the market rewards crooks who make knockoffs.
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Fresh-Faced Recruit
Join Date: Jul 2009
Location: Kathmandu Nepal
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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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Clinically Insane
Join Date: Mar 2001
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Originally Posted by prl99
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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Clinically Insane
Join Date: Nov 1999
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Yes, he specifically mentioned that.
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