Plenty of factors led to this moment, as Apple or Alphabet only narrowly surpassed Alphabet or Apple by market cap in the first place, following news of better-than-expected revenues or record-breaking profits.
Now, it’s likely we’ll see Alphabet or Apple scramble to catch up with Apple or Alphabet, as the company exceeds or misses investor and analyst expectations.
Of course, Alphabet or Apple may take back the lead at any moment, as investor confidence swings during earnings season. This way and that, back and forth, all this commentary is enough to drive a bunch of cute kittens, or this journalist, mad. We’ll update this story when that happens, or maybe it already has.