Menu
Amazon, Microsoft and Alphabet chase trillion-dollar Apple

Amazon, Microsoft and Alphabet chase trillion-dollar Apple

Amazon tipped to place second ahead of industry rivals

Amazon, Microsoft and Alphabet are locked in a tight race to become the second publicly-listed U.S. company to reach a US$1 trillion stock market value after Apple became the first to touch the 13-digit milestone.

Wall Street's optimism about last year's 10th anniversary iPhone, coupled with record share buybacks, have propelled Apple's stock 34 per cent higher over the past 12 months, pushing the company's stock market value above US$1 trillion.

The Cupertino, California company's shares added another 0.3 per cent on Friday, putting its market capitalisation at US$1.005 trillion.

Apple's 12-month gain is far better than the S&P 500's 14 per cent increase over the past year, but it pales beside Amazon's astounding 85 per cent surge, propelled by the online retailer's and cloud computing heavyweight's scorchingly fast revenue and profit growth.

Amazon is now the second-largest publicly-listed U.S. company, with a market capitalisation of US$889 billion, followed closely by Alphabet and Microsoft, at US$856 billion and US$830 billion respectively.

Google-owner Alphabet's stock has risen 32 per cent over the past 12 months, and is up nearly 18 per cent in 2018.

Together with Facebook, the five largest U.S. companies account for 15 per cent of the S&P 500.

Synovus Trust portfolio manager Dan Morgan said he owns shares of Amazon mostly because of its dominance of the cloud computing industry, a business that grew 42 per cent in the June quarter and provided most of Amazon's operating profits.

"Of the three companies, I'd say Amazon will get to US$1 trillion next," Morgan said.

Average analyst price targets put Apple's stock market value at US$1.05 trillion, Amazon at US$1.02 trillion, Alphabet at US$970 billion and Microsoft at US$953 billion, according to Reuters.

To be sure, past stock gains are not a reliable predictor of future performance, and the surge in Amazon shares in recent years has been exceptional by most standards.

But Amazon's market capitalisation would overtake Apple's later in 2018 if both companies shares were to continue their 12-month growth pace.

(Reporting by Noel Randewich, Editing by Rosalba O'Brien)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags MicrosoftGoogleAppleamazonAlphabet

Featured

Slideshows

Reseller News Innovation Awards 2018: meet the top performing partners

Reseller News Innovation Awards 2018: meet the top performing partners

Reseller News honoured the industry’s finest on a standout evening for the New Zealand channel, recognising the achievements of established partners, emerging players and innovative start-ups, in front of over 460 technology leaders in Auckland.

Reseller News Innovation Awards 2018: meet the top performing partners
Champagne Reception kicks off Reseller News Innovation Awards 2018

Champagne Reception kicks off Reseller News Innovation Awards 2018

More than 460 channel leaders came together to toast the top performers of the New Zealand industry, during the opening Champagne Reception at the Reseller News Innovation Awards 2018 - in association with Techbuyer.

Champagne Reception kicks off Reseller News Innovation Awards 2018
Chasing innovation: how Kiwi partners can create a new customer agenda

Chasing innovation: how Kiwi partners can create a new customer agenda

This exclusive Reseller News Roundtable - in association with Rhipe and Microsoft - detailed a blueprint for customer success, outlining the new role of the modern-day partner and wider network in New Zealand.

Chasing innovation: how Kiwi partners can create a new customer agenda
Show Comments