“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 billionThomson Reuters:
• Apple : $954.569 billion
• Amazon: $877.290 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:
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