“As we head into the heat of earnings season this week, two technology giants sit at the threshold of a monumental achievement: surpassing $1 trillion in market capitalization,” Brad Stone writes for Bloomberg.

“Apple Inc., still the world’s most valuable company, sported a $941 billion valuation at the end of trading on Friday,” Stone writes. “The iPhone maker reports its third quarter earnings results after the close of trading on July 31 and needs just a 6 percent increase in stock price to hurdle over the magical mile marker. Amazon, reporting on Thursday, is a few paces behind with an $880 billion market cap. Though it needs a 13 percent stock boost, it could conceivably get across the finish line first.”

“Amazon analysts have a lot to look forward to in Thursday’s second quarter earnings report,” Stone writes. “Despite some technical glitches, the company pulled off a successful Prime Day last week, recording more than $4 billion in sales. If Prime Day was as good as the company suggests, its guidance for the coming fall quarter could surprise investors.”

Read more in the full article here.

MacDailyNews Take: Current standings:

Yahoo Finance:
• Apple : $941.053 billion
• Amazon: $873.506 billion

Thomson Reuters
• Apple : $943.116 billion
• Amazon: $879.701 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: Analysts are still betting on Apple over Amazon – July 19, 2018
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