Google Passes Apple As Most-Owned Stock By The 50 Biggest Actively Managed U.S. Mutual Funds

It has only been a day since we covered a report claiming Apple quickly loosing its market value and share price but on the contrary Google to have been performing really well. Today Bloomberg confirmed that Google, the darling stock for mutual funds in the US, has surpassed Apple to become the most held stock by the top 50 biggest actively managed US mutual funds given in a report by Citi Group. Google’s shares are now trading at about 25 times profit, versus less than 10 times earnings for Apple says a report from Bloomberg. That gap is at its widest since June 2005, two years before competition between the two companies in mobile devices began to intensify.

Google

The industry has been monitoring Apple closely and it feels that Apple is stagnating as the market for premium segment smartphones is stagnating as well. Google seems to have a better edge overall where it is way stronger than Apple in terms of services and has its presence well spread out in economy market and premium markets with its mobile OS. Google currently owns 67% of the smartphone market which is expected to push up even further if Apple fails to address the low end market scenario soon. Google’s main revenue comes from its online ads which is always expanding because of surge in Mobile segment as well.

Leave a Reply

Your email address will not be published. Required fields are marked *