SHIRA OVIDE: Amazon is catching Apple in the race to be the first US$1-trillion company
At the beginning of this year, Apple’s stock market value was 50 percent bigger than Amazon’s. Now the gap is about 10 percent
In the battle for the first company to reach and sustain $1 trillion in stock market value, don’t count out a come-from-behind victory. Apple Inc. has had a lock on its spot as the world’s most valuable public company by stock value for several years, and we’ve been waiting for it to crest the $1 trillion market cap milestone. The company inched within $50 billion of that mark in early June before its share price retreated a bit. Apple’s trek to $1 trillion has been closely chronicled by news outlets, including this one, and it’s a good bet there are articles and essays prepped for what seems like an inevitable moment for Apple. Amazon, though, is coming up fast. At the beginning of this year, Apple’s stock market value was 50 percent bigger than Amazon’s. Now the gap is about 10 percent. The spread between the two companies was about $85 billion as of Friday’s U.S. market close. That is a big but not insurmountable gap if Amazon keeps up its torrid stock gains. In 2018 alone, the ...
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