updated 01:55 pm EDT, Fri August 31, 2007
AAPL passes GOOG
Though Google's per-share price is roughly four times higher than Apple's, a significantly larger number of outstanding shares and a surging stock price have resulted in Apple Inc. surpassing Google in terms of market capitalization at points during today's trading session. As of 10:30 AM PST, Apple's shares were trading at about $138. With 864,948,000 outstanding shares, that price reflects a market capitalization of about $119.4 billion. Google's shares were trading at just over $515 with 231,472,000 outstanding shares, representing a market cap of about $119.3 billion. There shares are still fluctuating, however, and either Apple or Google could be the leader in worth by the end of the trading day.
Earlier this month, shares of Apple Inc. are on a rollercoaster ride. During one week, the shares went from ~$124 on Wednesday to ~$112 on Thursday, then back up to ~$122 on Friday. The reason for the dip may have been pure profit taking by investors who have seen tremendous gains in the stock this year. The shares are up nearly 80% from a year ago.