As digital advertising revenues continue to grow, search engine giant Google seems all set to dethrone Apple and become the ‘World’s Most Valuable Company.’
According to The New York Times, Google traded with an equity value above $500 billion last week, less than 10 percent shy of the value of Apple. As the smartphone market continues to saturate, demand for Apple’s latest iPhone models appears to be waning. According to the article, “an oversupplied market could bring price wars, which could hurt margins — and the iPhone accounts for about 60 percent of Apple’s revenue and a bigger chunk of its profit.”
Ironically, a large part of Google’s revenue comes from Apple. Bloomberg reported that in 2014, it cost Google $1 billion to keep its search bar on the Apple device. The report was based on transcripts from Oracle Corp.’s copyright lawsuit against Google.