“Apple is on the verge of becoming the first $1 trillion publicly listed U.S. company, but even if it gets there, it could soon be overtaken as Amazon.com surges from behind,” Noel Randewich writes for Reuters.

“Started in the garage of co-founder Steve Jobs in 1976, the iPhone maker’s annual revenue has ballooned to $229 billion, greater than the gross domestic product of countries including Portugal and New Zealand,” Randewich writes. “Apple’s market capitalisation on Thursday topped a record $934 billion, following its unveiling last week of a $100 billion buyback budget and news that Warren Buffett’s Berkshire Hathaway dramatically increased its stake in the company. Thanks to a 12 percent rally since its quarterly report last Tuesday, the Cupertino, California company is just 8 percent short of hitting the $1 trillion valuation mark.”

“But Apple is in danger of being beaten to the $1 trillion mark – or passed soon after – by Amazon.com, the second largest listed U.S. company by market value, at $780 billion,” Randewich writes. “Saudi Arabian authorities, meanwhile, have said they expect a planned international initial public offering of Saudi Aramco that would value the national oil producer at about $2 trillion.”

“But if Apple’s stock were to keep growing at the pace seen over the past year, the company’s market capitalisation would hit $1 trillion in September,” Randewich writes. “Amazon would reach $1 trillion around October if its stock price continued to rise at the same rate as the past year, and overtake Apple soon after.”

Read more in the full article here.

MacDailyNews Take: Cough * Apple made more profit in three months than Amazon has generated during its lifetime * cough.

Apple’s P/E ratio is 18.17. Amazon’s is 202.04.

Trillion, schmillion. Over time, Apple will go much higher than that. The company is currently horribly undervalued.MacDailyNews, March 1, 2018

The next ten years are going to be absolutely amazing for Apple. The company has just started to really get going!MacDailyNews, August 2, 2017

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