Alphabet Reports Strong Fourth Quarter Results; Poised to Overtake Apple
Alphabet, Google's parent company is about to cross Apple to become U.S's most valuable company and that might happen just as trading starts on Tuesday. For four years or more, the iPhone maker has held the top position but it's about to change it seems.
On Monday, the first glimpse of Alphabet's financial details surfaced and was well liked by the investors. The thought that, what was formerly known as Google and now a conglomerate called Alphabet is poised to become the most valuable company kept investors spirit high.
Alphabet, in spite of spending $3.6 billion in one year on costly projects like self-driving cars which did not make much money, kept its advertising business on swing with strong results in the concluding three months of 2015. It surpassed expectations with its Q4 results which sent the stock up bus x percent during the after hour trading.
Alphabet is officially poised to cross Apple in market value in case both the companies on Tuesday open at the levels where they closed on Monday.
Apple of late has struggled with slowing demand for its iPhone and without a new blockbuster product for long. In the other hand, Alphabet moves ahead gaining in the rewarding Internet search advertising market focusing on video and mobile advertising.
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