“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 billionThomson Reuters
• Apple : $943.116 billion
• Amazon: $879.701 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: 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
Amazon is obviously hungry and in it for the win. Apple’s lacksadaiscal attitude not firing on all cylinders indicates they are happy being #2… or #3. Or whatever dude.
Apple could have been there a while ago if they had a real ceo. Not the chump they have now.
Apple is definitely not trying to be number one. There were so many opportunities for Apple to make key acquisitions to boost revenue but Apple was satisfied to keep that overseas cash in the bank and earning pennies on the dollar.
In practical terms, it probably doesn’t matter if Apple loses to Amazon in reaching $1T but Amazon is going to have some serious bragging rights and more investors lining up to buy the stock if Amazon blows Apple away. Wall Street and the news media are going to have a field day making fun of Apple. If Apple had only invested in a cloud business it probably would have been past $1T by now. All the FANG companies and Microsoft have been given unlimited growth scenarios. Only Apple’s future growth is in doubt. It still remains the iPhone company and everything hinges on how many iPhones are sold in a saturated, global smartphone market. It’s sickening to see Apple get totally outperformed in stock price by the likes of Facebook. Apple just doesn’t seem to have any juice left. Apple is just stuck in the mud.
Apple has been close to the $1T mark for such a long time but never seems to close the deal and it’s darn annoying. Depending mainly on iPhones for such a long time has somewhat weakened Apple as a company. So, will Apple not becoming a $1T market cap company matter to me? Not really. As long as Apple continues to give me higher dividends over time, I don’t have a problem with that. I just hope Apple finds some new category over the next few years that it can dominate if only to prove the company still has a lot going for it. I hope Apple makes some serious use out of that $5B Apple Park campus by making some award-winning product that consumers will madly desire.
“…Amazon is going to have some serious bragging rights and more investors lining up to buy the stock if Amazon blows Apple away…”
That would be the dumbest reason ever to begin buying Amazon stock at record highs. It would present a great selling opportunity for those who are savvy.
Almost as dumb as MDN pumping an artificial race. What happens at the $1T finish line? Does Timmy hand out participation medals?
Since when does the biggest fattest slowest company offer the best quality or service? Apple leaders don’t need another excuse to coast.
Tim Cook, Eddy Cue and Other senior execs are fat and happy. Eddy very fat. They are no longer hungry and curious and scary out of reality. Apple should have crossed the 1T mkt cap 2 years ago. Amazon and google will beat Political Pipeline Tim. Missed streaming of movies, music, wasted AI, and will likely miss AR. Political Tim is Ballmer.
You realize that AAPL is the number one stock in the world currently with PA of 18:1. It pays great dividends and buys back outstanding stock, reducing its market share value each time it does so. For me it has been the most productive stock I have every owned. The derisiveness aimed at the best Blue Chip Stock of all time is laughable.
AAPL is definitely a great stock but the FANG stocks are always being pumped much harder than AAPL. The news media always makes the FANG stocks seem much more attractive than AAPL. Look at how high Amazon keeps climbing on a daily basis while AAPL barely moves. I know Apple is a good company but Wall Street’s focus is always on the FANG stocks. It’s always “Buy FANG!”