Thanks to the Prime Day sale, Amazon sold over $100 million worth of products and on Wednesday, the company’s stock market value reached $900 billion for the first time since it went public 21 years ago. According to a report, the company’s stock has climbed by 57 percent since January. “An investor who bought 100 shares for $1800 in the 1997 IPO would today be sitting on more than $2.2M.” To get a better understanding of the gravity of the subject, let’s see some facts. Apple reached the $900 billion mark in November last year. At that time, Google’s parent company Alphabet was the closest competitor with $728.6 billion valuation, followed by Microsoft at the third spot with $651.5 billion cap. Amazon was hanging at the fourth spot with only $546.5 billion market cap. Nine month later, Apple could only reach $950 billion valuation (current $936.87 billion) and Amazon leapfrogged Microsoft (current $828.82 billion) and Alphabet (current $838.15 billion) to touch the mark that only Apple has crossed. The current market cap of Amazon is $902.89 billion.
Can India help Apple touch the magic number?
In May, Apple posted a healthy revenue of $61.1 billion for its fiscal 2018 second quarter and the company's CEO Tim Cook said he will now put great energy into the growing Indian market. During the company's earnings call with media, Cook said: "Let me start with India, and then I'll talk more about China. India, we set a new first-half record. So we continue to put great energy there... Our objective over time is to go in there with all of our different initiatives from retail and everything else. And so we're working toward those things. It's a huge market and it's clear that many people will be moving into the middle class over time, as we've seen in other countries."
Will Apple or Amazon be the first company ever to hit a trillion mark?
The simple answer is ‘No’. Apple or Amazon will not be the first publicly traded company to reach a trillion dollars in market value. Oil and gas producer PetroChina has topped $1 trillion (briefly) on the Shanghai Stock Exchange in 2007. Apple also would not be the most valuable company in the world. Experts believe that Saudi Arabia government-owned oil giant Aramco could make a $2 trillion IPO soon. In January, the company was worth $1.5 trillion. However when considering which of the tech comapnies would hit the trillion dollar evaluation first, it is a very close race between two very capable entities.