updated 09:55 pm EST, Fri January 20, 2012
Apple shares hit symbolic 2X boost over Google
The close of the stock market on Friday marked a symbolic difference as Apple stock was now worth more than twice Google's. A comparison showed that Apple's $391.8 billion market cap, or share price multiplied by the volume of shares, was more than double the $189.8 billion of Google. Apple's share price of $420.30 was lower than Google's $585.99, but a much higher share volume gave the iPad creator the edge.
The contrast was the result of ideal circumstances for Apple and sub-par results for Google. Apple was peaking at near highs based both on optimism for its results due next week and its textbook initiative. Google, meanwhile, fell short of expectations owing to expenses, triggering jitters among investors not used to Google disappointments.
Apple's share value is partly the result of deliberate conservatism mixed with consistent results. It also has the advantage of a diverse product base where the iPad, iPhone, iPod, Mac, and their respective software ecosystems give it a varied reach. Google still bases almost all of its income on search ads, both on desktop and mobile platforms like Android. [via Silicon Alley Insider]