Markets

Alphabet's market cap tops Apple's

VIDEO0:3700:37
Alphabet bigger than Apple

Alphabet's market cap overtook Apple's on Thursday morning.

The Google parent's market cap was about $498.56 billion, compared with $496.69 billion for Apple.

Shares of Apple hit a fresh 52-week intraday low of $89.89 in the session as they dipped below $90 per share for the first time since June 2014.

for the latest on the markets.

Traders work on the floor of the New York Stock Exchange.
Stocks close mostly lower with Apple at lowest since 2014
Tim Cook
When to buy Apple stock (Hint: Not when Tim Cook is on TV, analyst says)

Alphabet previously topped Apple as the largest company on Feb. 2 of this year, but the Cupertino, California-based iPhone maker reclaimed its title during the following session.

Apple had been the largest company, after surging past Exxon Mobil in 2012. The two battled for the No. 1 spot in 2013, but since then Apple has been far and away the largest company.

— CNBC's Gina Francolla and Christopher Hayes and contributed to this report.