Google's Alphabet overtakes Apple as world's most valuable company

Alphabet's shares rose by 4.7% following better than expected results, amid concerns that Apple has yet to come up with another blockbuster product

Alphabet, Google's parent company, pipped Apple to become the world's most valuable company on Tuesday, ending the iPhone company's four-year reign.

Alphabet's shares rose by 4.7% by noon on Tuesday following the release of better than expected results. After the rise Alphabet was valued at $548bn to Apple's $534bn.