Yesterday I wrote a post about why the market prefers Google (NASDAQ:GOOG) over Apple (NASDAQ:AAPL). Read Here. Today the stock has been down to $499.45 at 9:51 A.M. a major decrease from yesterday’s $510, which seems to be an area of resistance. Today I want to look at Google as a percentage of Apple, take a look at the chart below: Above I have provided yesterday’s chart but all numbers are a percentage of Apple’s. The two most important numbers are revenues and net income, you can see that even though Google has 63% of the market cap as Apple it only has revenues and net income of 39% and 46% of Apples. Google also has double the price earnings of Apple indicating the market expects greater things out of Google. The only thing that can support the valuation is the P/B ratio which are the same for both Google and Apple. Both companies are trading 4 times P/B. So is Apple undervalued or valued well? In my opinion, I like Apple’s current valuation, today the stocks is slightly under the $500 level and I think it is a good long term investment. Apple has good revenues, a lot of cash, and a strong balance sheet. There is still a lot of money to be made in the television industry as consumers switch from traditional cable to internet television. In addition Apple is exploring other ventures such as iRadio set to be launched next month. There is also the possibility of a boom in wearable technology though a lot of people are skeptical about this.As per my expectation of Google. I will talk about that in another post.