Apple is on its way to achieve another milestone.
The company may soon be the first to become a one trillion dollar company that is publicly listed in the U.S. However, even if the manufacturer of the world-renowned iPhone achieves this milestone, Amazon, the largest e-commerce company in the world, could soon surpass it.
Apple has seen exponential growth, with annual revenue currently at $229 billion, which, to everyone’s surprise, is more than the gross domestic product of countries such as Portugal and New Zealand.
The market capitalization of the phone manufacturer reached a new record of $934 billion after Warren Buffet’s Berkshire Hathaway suddenly increased its stake in the company. However, based on the recent growth in its revenue around services such as music streaming and online storage, which saw a spike of 31 percent, CFRA analyst Angelo Zino has increased the target price of Apple’s share value from $195 to $210. This would mean that the market capitalization of Apple will touch $1.03 trillion. Along with Zino, other analysts have set up the market value of Apple at $1 trillion.
However, this achievement of Apple will be short-lived, because Amazon is inching in closer with a current market value of $780 billion.
Now the spoiler for these two U.S giants will be Saudi Aramco. The national oil producer of Saudi Arabia has promised to go for its first initial public offering, which will put the value of the company to $2 trillion.
In the race to the $1 trillion club, Amazon has recently expanded its stock price and increased its sale faster than Apple.