“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:
• Apple : $941.053 billion
• Amazon: $873.506 billion
• Apple : $943.116 billion
• Amazon: $879.701 billion
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.
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