Apple has officially been dethroned as the king of Wall Street — by the company it once declared "thermonuclear war" against.

Google overtook Apple as the most valuable company in the world by market capitalization on Tuesday after a strong holiday quarter earnings report that drove its stock price up 5% overnight.

When the stock market opened on Tuesday, Google had a market value of $550.6 billion, beating out Apple's market cap of $529.1 billion for the first time in its history.

Image: Alphabet CEO Larry Page speaks at the Fortune Global Forum in San Francisco, Monday, Nov. 2, 2015.IMAGE: JEFF CHIU/AP PHOTO