Alphabet, Google's parent company, is on a roll. (AP Photo/Jeff Chiu)
Let's see if Google can hold the top title longer this time.
After briefly surpassing Apple back in February, Google's parent company Alphabet once again topped Apple on Thursday morning as the most valuable company in the world by market capitalization.
The change comes as Apple shares fell about 3%, dropping them below $90 per share for the first time in almost two years. Alphabet shares are down slightly on the day, but are still up about 35% in the last year.
The title of most valuable tech company has been solidly in Apple’s hands since 2010, when it passed Microsoft at a valuation around $220 billion. Apple has more than doubled in value since then, and passed Exxon Mobil to become the world’s most valuable company in any industry.
But Apple has been in a prolonged slump since mid-2015 as iPhone sales slowed and, for the first time in 13 years, fell the past quarter. Meanwhile, investors are loving Alphabet's new corporate structure, which separates out the core Google business results from the company's many moonshot projects. The search giant's stock has hit new highs in late 2015 and early 2016.
