“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 billionThomson Reuters
• Apple : $941.003 billion
• Amazon: $894.724 billionNotes:
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
No surprise analysts are giving Apple more love (perception).
Apple deserves the title, but we shall see …
does it matter who wins such a race. Its the quality we want, not quantity. Too much manipulation going on with the stock prices anyway
That’s very perceptive for a dogg!
“Too much manipulation going on with the stock prices anyway”.
Why?. Because Jeff Bezos has best friends in Wall Street. His friends help AMZN racing high and higher and higher like Warren Buffet said “AMZN is a miracle and he is not into miracle”. Enough said.
Apple beating Amazon to $1T. Nonsense. Wall Street truly believes Amazon will be, and should be the owner of the title of world’s wealthiest company. Jeff Bezos is worshiped as a god among CEOs unlike Tim Cook who is considered rather incompetent. Amazon is praised for everything it does including acquisitions. Everything seems the perfect fit for Amazon to take over. Apple can’t even build a laptop that doesn’t instantly thermal-throttle. Last year, Apple had more than enough cash to push it beyond $1T using many different methods. Instead, just sat on that money for years and collected pennies on the dollar in interest.
Amazon has everything going for it while Apple has almost nothing. Why do I say that? Each time Amazon is even suspected of going after a market, those rival companies’ stock start selling off out of fear. Every company fears Amazon. Apple doesn’t strike the fear into rivals like Amazon does. Usually, it’s Apple being doubted about its capability to take market share from an established company.
What does it really prove for Amazon being the first company to reach $1T? God status as a company. Amazon will be considered unbeatable in every way and the share price will continue to climb to the stars. Meanwhile, Apple stock will continue to stagnate and likely fall in value. It will be a running joke of how Apple threw away its top position because Tim Cook didn’t have what it takes to be a great CEO. Apple had every opportunity to grow its revenue but simply didn’t take any significant action except to try to sell more iPhones. Amazon was able to gain $250B in value in a year while during that time, Apple lost overall value. That’s absolutely humiliating. All the FANG stocks gained value with the greatest of ease.
That big investors will happily pay $2200 a share for Amazon but not $200 a share for Apple tells the whole story of two companies going in opposite directions in terms of value.
Jeff Bezos now has so much money, he makes every other wealthy person in the U.S. look like a pauper and he’s only starting to hit stride. OMG! In a year, he’ll be able to buy Apple with his own cash.
/s
Ain’t gonna happen. While Apple is currently the Tortoise to Amazon’s Hare this is one race the turtle is going to lose, but didn’t have to.
All thanks to Cupertino’s lackluster leadershit.
The first to one trillion will the first back to 800 million. The minute aapl hits 200 the sell orders will fly! I have owned the stock for 20years and it happens every time it hits a made up goal. The only one that benefits is CNBC… for the ratings.