AAPL would trade at
$296.21
one share of Apple, today $313.33 — 1.06× lower
Apple today
$4.573 T
Alphabet today
$4.323 T
This holds Apple’s share count fixed and moves only the valuation, which is what makes it a clean illustration of relative size. It is not a forecast, a target, or a claim that either outcome is possible — assets of very different kinds rarely end up worth the same.