Amazon Could Hit The Trillion Dollar Mark Before Apple
Online behemoth Amazon could reach the one trillion dollar mark before Apple, according to Reuters.
Apple is described as the as world’s most valuable public listed company but that could soon change.
Currently, Apple’s market value is at US$897.8bn and Amazon is sitting on US$751.27bn.
Reuters reports Amazon’s stock has jumped 83 per cent over the past year due to speedy revenue growth as online shopping becomes more of the norm and businesses shifting operations to the cloud as Amazon Web Services is currently leading the market.
Reuters points out if Amazon’s stock keeps on growing with the same trajectory as the past year its capitalisation will hit US $1 trillion in the last week of August and Apple would reach it a week later.
Over the past year, Apple’s stock has risen 24 per cent higher due to the iPhone X launch giving the company a market capitalisation of US$839m.
Last month, Amazon’s market value overtook Microsoft’s rising to US$702.5bn compared to US$699.2bn.
Currently on the NYSE, Amazon is up 0.44 per cent to US$1,551.86 and Apple is up 1.09 per cent to US$176.94