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Hold the iPhone! Amazon primed to be larger than Apple

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03/08/2018 | 10:38pm CET
FILE PHOTO - A guests uses her Iphone to take pictures on the red carpet as she arrives for the screening of the film

SAN FRANCISCO (Reuters) - Apple Inc (>> Apple), the world's most valuable publicly listed company, is in danger of being beaten by Amazon.com Inc (>> Amazon.com) to the $1 trillion mark.

SAN FRANCISCO (Reuters) - Apple Inc, the world's most valuable publicly listed company, is in danger of being beaten by Amazon.com Inc to the $1 trillion mark.

Wall Street's optimism about last year's 10th anniversary iPhone had propelled Apple's stock 24 percent higher over the past 12 months, giving it a market capitalization of $893 billion.

That is $141 billion more than the $752 billion market value of Amazon, the world's third most valuable publicly listed company, but Amazon has been quickly closing the gap.

(GRAPHIC: Apple vs Amazon.com Market Capitalization - http://reut.rs/2Fn9hzA)

Amazon's stock has surged 83 percent over the past year, bolstered by scorchingly fast revenue growth as more shopping moves online and businesses shift their computing operations to the cloud, where Amazon Web Services leads the market.

In January, Amazon announced that it, Berkshire Hathaway Inc and JPMorgan Chase & Co (>> JP Morgan Chase & Company) would form a company to cut health care costs for their employees, which was widely seen as a threat to the existing U.S. healthcare system and underscored Amazon's ability to disrupt markets.

Amazon dislodged Microsoft Corp (>> Microsoft Corporation) as the No. 3 U.S. company by market capitalization in February.

At $783 billion, Alphabet Inc has the second largest market capitalization. The Google parent company's stock has grown about 33 percent over the past year, faster than Apple but far slower than Amazon.

(GRAPHIC: Race to $1 Trillion Market Cap - http://reut.rs/2DbhQYq)

Meanwhile, optimism about Apple's iPhone X has given way to concerns that demand for the $1,000 device may be weaker than expected.

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 if Amazon's stock were to keep growing on the trajectory seen over the past year, the company's market capitalization would hit $1 trillion in late August. Apple would reach $1 trillion around a week later if its stock price continued to rise at the same pace seen over the past year.

Alphabet would not reach $1 trillion until 2019 if its stock price continued to rise at the same pace seen over the past year.

(GRAPHIC: Analyst Price Targets: Apple Vs Amazon Market Cap - http://reut.rs/2FtMBtO)

Most Wall Street analysts are not quite that enthusiastic about the growth of Apple and Amazon. Analysts on average expect Apple's stock price to rise 11 percent and reach $195 within the next 12 months, which would put its market capitalization at $989 billion, according to Thomson Reuters data.

Analysts covering Amazon on average expect its stock to rise 10 percent within the next year to reach $1,700, which would give it a market value of $823 billion.

Apple on Thursday was up 0.60 percent at $176.05, while Amazon rose 0.31 percent to $1,549.90.

(Reporting by Noel Randewich; Editing by Meredith Mazzilli)

By Noel Randewich

Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET -2.53% 1026.55 Delayed Quote.-2.55%
AMAZON.COM -3.20% 1495.56 Delayed Quote.27.88%
BERKSHIRE HATHAWAY -2.76% 288755 Delayed Quote.-0.22%
JP MORGAN CHASE & COMPANY -2.67% 107.01 Delayed Quote.0.07%
MICROSOFT CORPORATION -2.91% 87.18 Delayed Quote.1.92%
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Financials ($)
Sales 2018 262 B
EBIT 2018 69 779 M
Net income 2018 57 776 M
Finance 2018 147 B
Yield 2018 1,61%
P/E ratio 2018 14,40
P/E ratio 2019 12,60
EV / Sales 2018 2,63x
EV / Sales 2019 2,57x
Capitalization 837 B
Duration : Period :
Apple Technical Analysis Chart | AAPL | US0378331005 | 4-Traders
Technical analysis trends APPLE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 191 $
Spread / Average Target 16%
EPS Revisions
Timothy Donald Cook Chief Executive Officer & Director
Arthur D. Levinson Chairman
Jeffrey E. Williams Chief Operating Officer
Luca Maestri Chief Financial Officer, SVP & VP-Human Resources
Kevin M. Lynch Vice President-Technology
Sector and Competitors
1st jan.Capitalization (M$)
APPLE-2.54%836 908
HP INC6.95%35 948