Is Apple really falling from the tree, nay, the economy?
According to the Wall Street Journal, Google has already surpassed Apple as the most valuable company in the world.
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In a MoneyBeat report entitled "Big Apple, Bigger Google," Rolfe Winkler of the WSJ says that Google went passed the Cupertino giant last week, with Apple having a value of $233 billion and Google raking $241 billion.
Winkler notes that the trend won't be noticeable "because the metric by which Google jumped ahead isn’t the widely-watched one of market capitalization." Apple may be ahead in the charts, with a market cap of $378 billion. But peeling off Apple's net cash of $145 billion will reveal an enterprise value of $233 billion.
Google, on the other hand, has a market cap of $286 billion. With a $45 billion net cash, Google takes the first spot with $241 billion, overall. Is Apple really falling from the tree, nay, the economy?
Source: The Wall Street Journal