As the first company in history to pass the $700, $800, and $900 billion marks, Apple has long looked set to become the world’s first ever $1 trillion company. But Amazon is rapidly closing in on it.
This week, Amazon’s stock market value reached $900 billion for the first time. That puts it within spitting distance of the Cupertino tech giant’s current $935 billion. In 2018, Apple’s shares have risen 12 percent, while Amazon’s have shot up dramatically to the tune of 57 percent.
Apple’s market value will eventually top $1 trillion, but Amazon is evolving more and more as if it will get there first.
The gap has rapidly narrowed between the two company’s market values. Apple, always believed to be the first company to reach $1 trillion started out the year with stock valued 50 percent higher than Amazon’s.