Competition is heating up between Amazon and Apple, regarding which will pass the trillion dollar valuation mark first. But despite Apple still being ahead to the tune of approximately $949 billion to Amazon’s $888 billion, investors seem to believe that Jeff Bezos’ retail giant will be the one to set the record.
According to a recent survey at the 8th Annual Delivering Alpha Conference in New York, CNBC asked 100 investors which company they thought would set this record first. Amazingly, a whole 70 percent said that Amazon is likely to pip Apple to the post.
Coming in third place was Alphabet, the parent company of Google, which is currently valued at around $870 billion.
The race to $1 trillion
The suggestion that Amazon may beat Apple to this historic milestone has been voiced before. A report published earlier this year suggested that Amazon could beat Apple to the $1 trillion mark by a single week. At that time, Apple’s market cap was $893 billion, while Amazon’s was $752 billion. That report suggested the landmark feat would be carried out sometime in late August.
While there’s no doubt that Amazon’s valuation is rocketing upward at a faster rate than Apple’s, Apple certainly has history when it comes to setting new financial landmarks.
It was the world’s first $700 billion company, then the first $800 billion company in history, and more recently the first $900 billion company. Amazon, too, briefly passed the $900 billion valuation recently, before dropping back down.
For more details on the race to hit a $1 trillion valuation, I’d recommend NYU Stern marketing professor Scott Galloway’s immensely readable The Four: The Hidden DNA of Amazon, Apple, Facebook, and Google. Having recently lost a record amount of money in one day, however, I’d suggest we can probably eliminate Facebook from the running.