Amazon could beat Apple to become the most valuable company
What's the story
Propelled by the company's fast revenue growth, Amazon's stock has recorded a surge of 83 per cent over the past year, helping the e-commerce giant reach a $752 billion market capitalization.
This upswing stock trajectory has put Amazon on track to dethrone Apple in the race to hit $1 trillion mark and become the world's most valuable company in terms of market capitalization.
Data
Amazon surpasses Microsoft to become the world's third biggest company
In February 2018, Amazon displaced Microsoft for the first time to become the world's third biggest company by market capitalization. Amazon's recent success is propelled by fast revenue growth as shopping moves online and businesses shift to cloud computing, where Amazon leads the market.
Fight for No. 1
Apple in danger of being dethroned by Amazon
Investor optimism about Apple's 10th anniversary iPhone launched last year, had bolstered the company's stock 24 per cent higher over the last year, allowing it to continue being the world's most valuable public listed company with a market capitalization of $893 billion.
However, given Amazon's stock surge and weaker than expected demands of the $1,000 priced iPhone, Apple could be dethroned by Amazon soon.
Amazon Vs Apple
Race to hit the $1 trillion mark
While Apple's stock grew 24 percent higher over the last year, Amazon's stock grew a stunning 83 percent in the same period.
And now, if Amazon's and Apple's stocks follow the same trajectory as last year's, Amazon's market capitalization would hit $1 trillion in late August whereas Apple would the reach the same mark in September.
The underdog?
Alphabet Incorporation: The second most valuable company in the world
Google's parent company Alphabet Inc., with a market capitalization of $783 billion, has the second largest market capitalization. The company's stock grew faster than Apple but far slower than Amazon at about 33 percent over the past year.
While the race to hit $1 trillion market capitalization cannot be purely adjudged on past stock gains, Alphabet would not reach $1 trillion mark until 2019.