“Eighteen years on, the milestone is still elusive — and further away after the sector fell sharply on Monday,” Lex writes. “Scott Galloway, a professor at New York University, in April last year backed Amazon to get there first. It was a bold call. At the time, the ecommerce company’s equity was valued at $430bn. But in less than a year, the shares rose more than 75 per cent. It was on a trajectory to win the race — until a report last week suggested Donald Trump wanted to stop its rise.”
“So who to pick? The dull answer, the biggest and cheapest of the pack: Apple. The iPhone maker got within $80bn last month,” Lex writes. “With almost $60bn of net income, it does not even require an aggressive price/earnings multiple. ”
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MacDailyNews Take: Apple.