Alphabet has overtaken Apple in market capitalization, marking the first time since 2019 that Google’s parent company has moved ahead of the iPhone maker in the global rankings.
According to the latest market data, Alphabet is valued at roughly $3.94 trillion, edging past Apple’s market cap of around $3.81 trillion. The change follows several sessions of diverging price action, with Alphabet shares grinding higher while Apple has struggled to regain upside momentum.
Key Takeaways
Alphabet has surpassed Apple in market capitalization for the first time since 2019
Stronger momentum indicators favor Alphabet over Apple
Nvidia remains the global market cap leader
Alphabet technical picture
From a technical perspective, Alphabet’s structure remains constructive. On the four-hour chart, the RSI is holding near the upper range, suggesting persistent buying interest rather than a momentum blow-off.
At the same time, the MACD remains firmly in positive territory, with signal lines pointing higher, reinforcing the bullish bias seen in recent sessions. This combination indicates that buyers are still in control, even after the recent rally.
Apple shows signs of short-term weakness
Apple’s chart tells a more cautious story. Its RSI has drifted lower, reflecting fading momentum after a strong run earlier in the cycle.
Meanwhile, the MACD has crossed into bearish territory, signaling a short-term shift in trend and increasing the risk of further consolidation or downside before buyers step back in. These signals help explain why Apple has lagged Alphabet during the latest market cap reshuffle.
A rare shake-up at the top
The move is notable given Apple’s long-standing dominance near the top of global equity markets. Since 2019, leadership among mega-cap stocks has largely rotated between Apple, Microsoft, and more recently Nvidia, with Alphabet often sitting just behind.
This latest change highlights how quickly leadership can rotate when momentum and sentiment diverge across Big Tech.
Adding to the positive tone, Alphabet also received a boost from Wall Street after Cantor Fitzgerald upgraded the stock to a buy rating. The firm pointed to improving momentum and longer-term growth drivers, reinforcing the recent strength that helped Alphabet move ahead of Apple in market value.
Bigger picture
Nvidia remains the world’s most valuable public company, with a market cap near $4.6 trillion, reflecting the market’s continued preference for AI-related exposure. Still, Alphabet’s return ahead of Apple underscores a broader rotation rather than a one-day anomaly.
Whether Alphabet can maintain its lead will likely depend on upcoming earnings, guidance, and how investors reassess growth expectations across the tech giants in early 2026. For now, Google’s parent has reclaimed a position it last held more than six years ago.
