“Yesterday, Amazon’s market capitalization briefly surpassed $900 billion,” Eshe Nelson writes for Quartz. “The jump highlighted that Apple now has competition in the race to become the world’s first $1 trillion company.”

“Market watchers have been patiently waiting for Apple to break the trillion-dollar threshold: It’s currently valued at just under $940 billion,” Nelson writes. “After Amazon announced that it sold more than 100 million products during the latest Prime Day, the company’s shares hit $1,858.88 yesterday, giving Amazon a stock market value of $902 billion. [AMZN closed yesterday at $894.23 billion.] …This year, Apple’s shares have increased by 13%, while Amazon’s are up a whopping 58%.”

“To get $1 trillion [Apple] needs a share price of $203.45 — 10 out of 22 analysts have set price targets above this,” Nelson writes. “o reach $1 trillion, [Amazon’s] share price would need to hit $2,061. Just four out of 33 Amazon analysts have published a target price above that.”

Read more in the full article here.

MacDailyNews Take: It’s a nailbiter! Perhaps Apple’s slew of expected new products this fall will win the race.

Current standings:

Yahoo Finance:
• Apple : $935.843 billion
• Amazon: $894.235 billion

Thomson Reuters
• Apple : $941.003 billion
• Amazon: $894.724 billion

Notes:
Market Value = Share Price * Shares Outstanding.
Apple buybacks cause the Shares Outstanding to change minute-by-minute, making Apple’s actual market value a moving target.

SEE ALSO:
Race to $1 trillion: Amazon hits $900 billion valuation, rivals Apple – July 18, 2018
Amazon closes on Apple in the race to trillion-dollar market cap – July 2, 2018
The race to the trillion-dollar market cap – June 26, 2018
Apple’s $1 trillion market value is a moving target due to record buybacks – May 29, 2018
Apple made more profit in three months than Amazon has generated during its lifetime – May 11, 2018
Apple: Why stop at $1 trillion? – May 8, 2018
Apple’s march to become the world’s first trillion dollar company – May 8, 2018
Apple vs. Amazon: Who will win race to be world’s first $1 trillion company? – April 2, 2018
Apple is going to be the first trillion-dollar company – March 1, 2018
Bank of America predicts Apple market value to surge to $1.1 trillion – January 17, 2018
Apple leads race to become world’s first trillion-dollar company – January 3, 2018