“Wall Street analysts rushed to raise their stock price targets on Amazon.com Inc. after the e-commerce giant reported blowout second-quarter results, and now project the company to be the first to crack the $1 trillion market-capitalization mark,” Tomi Kilgore reports for MarketWatch.

“The average price target of the 48 analysts surveyed by FactSet increased to $2,076.83, up from $1,892.66 at the end of June,” Kilgore reports. “With 487.74 million shares outstanding, that would peg Amazon’s market cap at $1.01 trillion.”

“The average price target for Apple Inc. is $201.79,” Kilgore reports, “which would represent a market cap of $991.87 billion, based on 4.915 billion shares outstanding as of April 20.”

Read more in the full article here.

MacDailyNews Take: In related news, analysts’ concensus predicted the demise of Apple twenty years ago.

Analysts don’t even know how many AAPL shares are outstanding, so projecting Apple’s market cap is a fool’s errand.

Note: Apple reports Q318 results on Tuesday, July 31, 2018, at market close. Check our homepage right around 1:30pm PDT / 4:30pm EDT next Tuesday for the results.

SEE ALSO:
Race to $1 trillion: Apple vs. Amazon – July 23, 2018
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