Google is currently trading at a value of about $50bn and Apple is worth $400bn, but both companies are on the verge of an historic decline in value.
The Wall Street Journal says Apple has lost more than 90 per cent of its value since its founding in 1958 and Google is now at a valuation of less than $25bn.
Apple has lost about $20bn in market value since launching its iPhone in 2010.
Apple is now worth about $1.1tn, and Google about $200bn.
In the past year, Apple has been suffering from slowing sales and the release of the iPhone 5 was followed by a massive recall of its iPad Mini.
Apple has had to pay out $1bn in compensation to iPhone owners in the US, Canada and the UK.
It has also announced a new iPad mini, which is due to be launched in March.
Meanwhile, Google has made significant strides in its search business.
Its stock has climbed about 30 per cent in the past 12 months, and its market value has nearly doubled.
In the year to March 31, Google had a market value of $19.9bn, while Apple had a value that was $10bn, the Journal says.