Google parent to overtake Apple as world's most valuable company

Alphabet shares jumped more than 9%, putting it on track to surpass Apple's market capitalisation

Alphabet is on track to surpass Apple’s market capitalisation of $534.7 billion

Google parent Alphabet is poised to become the world’s most valuable company, taking the crown away from Silicon Valley rival Apple after reporting higher profit and sales fuelled by a booming advertising business that’s supporting ambitious new projects.

Alphabet’s shares jumped as much as 9.4 per cent in extended trading, putting it on track to surpass Apple’s market capitalisation of $534.7 billion (€492.3 billion). The web company has been inching closer to the ...