“For a long time, Apple appeared to be flying solo to a $1 trillion market value, but Amazon is right at its heels — and experts have no fears of a tech bubble,” Juliette Michel writes for AFP. “Apple, at $939 billion, remains the highest-valued private company on the global markets — and could well cross the $1 trillion finish line after it releases its quarterly results Tuesday.”

“But Amazon is right behind: on Friday, its market cap reached $917 billion, before finishing at $882 billion, thanks to quarterly figures well received by investors,” Michel writes. “Google’s parent company Alphabet ($886 billion) and Microsoft ($827 billion) are also on track, while Facebook ($505 billion) is out of the race, having shed $119 billion in value after results released Thursday.”

“State oil company PetroChina briefly broke the $1 trillion barrier in 2007 during its initial public offering, but has since dropped back down,” Michel writes. “Apple’s price/earnings ratio stands at 18.62, underperforming the S&P 500 (20.86), the index representing the 500 biggest businesses on Wall Street.”

Read more in the full article here.

MacDailyNews Take: Current standings:

Yahoo Finance:
• Apple : $932.697 billion
• Amazon: $874.772 billion

Thomson Reuters:
• Apple : $954.569 billion
• Amazon: $877.290 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:
Analysts’s consensus now projects Amazon to top $1 trillion in market cap, ahead of Apple – July 27, 2018
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