Apple drops to No. 2 behind this company

May 12, 2016 3:59 PM

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Apple's (AAPL) epic fall on the markets took a symbolic turn Thursday - after its market value again dropped below its top rival's.

A more than 2% fall in Apple's stock price to $90.28 a share compresses the value of Apple - once the most valuable company in the world by far - to $493.8 billion. That makes it second fiddle behind Google parent Alphabet (GOOGL) at $497.8 billion.

Also read: Apple's holiday surprise: big sales, not so big profits

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