14 DAY TRIAL // Apple has long been described as the company with the biggest chances to break the $1 trillion market cap, but in the last couple of years, the growth of other tech giants put Cupertino’s pole-position at risk.
Amazon is now getting closer to overtaking Apple and move closer to the $1 trillion market valuation threshold, after the company surpassed the $900 billion mark for the first time.
Prime Day sales pushed Amazon’s stock market value to $902 billion, closing in on Apple who remains the leading firm with $935 billion. Amazon’s growth, however, is a sign that a switch of places could take place rather sooner than later, with the company’s market cap increasing no less than 123,000 percent since 1997.
As Reuters reports, Amazon’s stock also surged more than 57 percent this year alone, and if the same trend is maintained, it’s well positioned to overtake Apple by the end of the year.
The new iPhone generation
On the other hand, the Cupertino-based tech giant has high hopes that the upcoming iPhone generation launching in September would contribute to an upgrade super-cycle, eventually generating record revenue for the company.
Apple will take the wraps off three different iPhone models this year, including a more affordable configuration that’s expected to account for at least half of the sales the new series would record. This should help the company get closer to the $1 trillion market cap, according to analysts who also believe the Apple’s services unit would be one of the main engines powering this growth.
At the same time, Microsoft’s growth is also a sign that the software giant is closing in on Apple, this time thanks to its cloud services. Microsoft could surpass the $1 trillion mark by 2020 or 2021, according to analyst forecasts, as the company’s enterprise focus generates increase revenue every quarter.