Alphabet Takes Lead Over Apple in Race for $5 Trillion Market Cap

The $5 trillion market capitalization club has only one member so far, Nvidia. Two potential newcomers are vying for entry: Apple and Alphabet.

Apple currently has a market value of $4.4 trillion, while Alphabet's is slightly lower at $4.2 trillion as of August 12. However, it seems that Alphabet might be gaining ground with its thriving business.

Alphabet's core business is doing well, with Google Search revenue rising 17% year over year and overall revenue increasing by 24% in the quarter due to strong growth from its cloud computing business, Google Cloud.

In contrast, Apple faces challenges, particularly with memory chip prices. Chief Executive Officer Tim Cook recently warned investors about a '100-year flood' of increased costs, which could impact Apple's business and profitability.