The general notion has always been that Apple had more money than any other corporation in the world. This is thanks to sizeable profit margins it has always enjoyed on most of its products and two decades atop the consumer technology industry, according to Ars Technica.
It was lauded as the most successful company and also the richest, but today, it's no longer the richest company globally.
That title now belongs to a competitor of sorts-Alphabet, the parent company of search engine giant Google. Alphabet's revenues for the second financial quarter has reached $117 billion in reserve, with Apple having $102 billion. It had $163 billion in 2017. Based on observation, it's a story of how much Apple had declined and how much Google had grown its revenues.
Apple has worked to reduce any liquidity so to loosen up criticisms from investors. Most of them are convinced the company is hoarding cash and investors always keep companies from hoarding hard-earned cash. Apple has been accused time and again of keeping the money instead of giving them back to the investors.
Google parent company Alphabet has come under "antitrust scrutiny," among other controversies, because of their recent success. These scandals failed to tarnish their success, enabling Alphabet to gain in the second quarter, after stumbling through January to March this year, according to CNET.
By end of quarter June 30, Alphabet scored more than $38.94 billion in sales, beating out analysts who predicted $38.14 billion for the company. Earnings during share estimate reviews were up $14.21. For this, analysts predicted shares of up to $11.30. The company's stock also managed to rise up to 9% during after-hours trading.
The second quarter was also a busy time for Alphabet as it continued to push investments into other non-money-making projects. These "Other Bets" division offshoots, which were projects like self-driven cars and the Verily health tech, were worth $1 billion in operating costs alone, rising from just $732 million the year before.
The company's Pixel line of smartphones have also contributed significantly to its sales compared to last year, revealed Google CEO Sundar Pichai. The growth had been driven by the release of the Pixel 3A last May, among others. Pichai also said that Google's cloud division had become big business, to the tune of $8 billion in revenue per year.
Good times seem to lie ahead for Alphabet, while Apple is still trying to create a dent in a world with more quality smartphones than before. While iPhones have been experiencing a year-over-year decline, these losses were made up by growth in other areas such as in the wearables division and other services.
