Google can take the market cap crown from Apple, but it can't seem to keep it.
Last week, Google overtook Apple to become the world's most valuable company by market capitalization (i.e. share price times number of shares outstanding).
It was the second time in four months the two companies had switched places. And as in February, Apple retook the crown the next day.
It seems to me that this is more about Apple being discounted than it is about the market valuing Google.