On Monday February 1st, after the market closed. Google reported earnings that beat on the top line and bottom line. In after hours trading Google’s shares immediately rose by more than 8%, giving the company a market cap of $560 billion, almost 5% above the $535 billion dollar market cap sported by Apple at the time. After a four-and-a half year reign by Apple as the world’s most valuable company, which started when Apple surpassed Exxon on August 11th, 2011, Google was n0w the world’s most valuable publicly traded company in the world.
However, by 10a.m. on February 3rd, a mere 42 hours after Google’s reign began, the market was turning south, taking Google’s shares with it. As Apple’s shares were falling at a slower pace, Apple regained it’s place as the world’s most valuable company. By the end of the week, as the market rout continued, Apple’s market cap was 10% bigger than Google’s.