San Francisco: As the digital advertising market booms and demand for smartphones wanes, Alphabet Inc. could soon dethrone Apple as the world's most valuable company.
If it happens, Alphabet will move to the head of the class just five months after Google reorganized itself under the holding company.
The Silicon Valley rivals could trade places soon, given how rapidly the financial gap between them is narrowing. At the end of trading on Friday, Apple's market value stood at $540 billion; Alphabet was worth $524 billion.
That's a dramatic swing from where things stood just 13 months ago. Apple then boasted a market value of $643 billion, almost twice Google Inc.'s $361 billion.
(With inputs from agencies)