Alphabet has moved ahead of Apple in market capitalization for the first time since 2019, according to figures published by CompaniesMarketCap. The shift occurred in the final days of the first week of January, driven by divergent stock moves for the two companies.
During that trading period, Alphabet shares climbed about 2.5% while Apple shares fell roughly 4%, leaving Alphabet with a market value of approximately $3.973 trillion versus Apple’s $3.849 trillion. NVIDIA remained the most valuable of the group, with a total market capitalization near $4.5 trillion. Looking at performance through 2025, Alphabet’s stock has risen about 66% year to date, compared with roughly a 9% gain for Apple.
Analysts attribute much of the strength behind Alphabet’s rally to advances and investor enthusiasm around artificial intelligence. Google has recently rolled out its Gemini AI platform and an image-generation model nicknamed Nano Banana that is built on that technology, and it introduced the TPU v7 accelerator, positioning it as an alternative to some products from other chip makers.
Apple, by contrast, has encountered setbacks in the AI arena. A promised upgrade to the Siri voice assistant that would add AI-driven capabilities has not yet fully materialized, and Apple’s own Apple Intelligence feature has faced criticism for inaccuracies and slower performance relative to competing offerings. Investors appear to be pricing in those differences as competition in AI and AI hardware reshapes valuations across the biggest tech firms.