Investors Favor Google Over Apple
Success in mobile helps boost the search giant’s valuation
This article is for subscribers only.
When it comes to tech companies, investors are showing a clear preference for Google over Apple. While Apple remains the stock market’s most valuable company, its shares have fallen 20 percent in the past 12 months, as Google’s have climbed 35 percent, reaching a record high of $834 on March 5. Google has surpassed Apple as the most-owned stock among the 50 largest actively managed mutual funds in the U.S. Its stock also trades at 25 times annual per-share earnings, compared with Apple’s price-to-earnings ratio of 10, according to data compiled by Bloomberg.