For a timely post on why this is ultimately not a very meaningful competitive context, see Valuations and Trajectories (Tech.pinions)
"Apple is once again the world's most valuable company.An excerpt from the Tech.pinions post:
The iPhone maker lost the title to Alphabet earlier this week after Google's parent company posted better-than-expected earnings on Monday.
But Alphabet is down over 3% on Wednesday morning, while Apple has stayed flat. The result: Alphabet currently has a market capitalization of just over $500 billion, while Apple's is up around $525 billion."
"Ultimately, the stock market valuations of companies reflect analysts’ assumptions about the trajectories of those companies, their sustainability, and their predictability, rather than an objective measure of the current value of those companies. As such, comparing instantaneous valuations for two stocks and drawing broad conclusions from such comparisons is ridiculous on the face of it. And yet, we see so many overblown pieces about the significance of these transitions, all of which look a little silly the morning after, when the first- and second-place companies have switched places again. Yes, it’s worthwhile to have a conversation about why one company seems to be rising and another falling, but focusing too much on who’s in first place risks missing the point."Apple market cap passes Alphabet-Google - Business Insider