Apple needs a new hit or Alphabet will overtake it as the most valuable company in the world

Apple is currently the most valuable company in the world, but that crown could be about to pass to Alphabet (nee Google) for the foreseeable future unless the company can deliver a new hit product. On Friday, Alphabet’s equity value rose above $500 billion, putting it about $60 billion behind Apple’s market capitalization at the close of day. That might sound like a whole bunch of money – and it is – but long-term investments are about momentum, and investors are now classifying Apple alongside old tech behemoths like Cisco and Oracle, according to The New York Times. The reclassification of Apple as…

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