BREAKING NEWS Authorities release names of 2 people killed in Dodge County crash Full Story
BREAKING NEWS Rochester Fire Department gets recognized for saving dog Full Story
STREAMING NOW: Watch Now

Look out Apple! Amazon may soon be worth $1 trillion too

Apple may soon have some company in the trillion dollar club. Amazon is worth about $940 billion.Shar...

Posted: Aug 13, 2018 7:17 PM
Updated: Aug 13, 2018 7:18 PM

Apple may soon have some company in the trillion dollar club. Amazon is worth about $940 billion.

Shares of Amazon popped 2% Monday to hit a new all-time high. The stock only needs to go up another 7% for the Jeff Bezos-led company to top a trillion dollar market valuation.

Amazon is firing on all cylinders this year. Shares of the retail/cloud/media/consumer gadget giant are up nearly 65% in 2018. Health care may be the next big market that the company disrupts, following its acquisition of online pharmacy PillPack.

Analysts are predicting that Amazon's sales will surge 32% to a whopping $265 billion this year -- and earnings per share will nearly triple. If there's an obstacle in the path to a $1 trillion market cap, it's not clear what that would be.

But Wall Street analysts aren't sure whether Amazon could move ahead of Apple.

According to data from Thomson Reuters, the consensus target price for Amazon's stock is about $2,100 -- up 9.5% from where the stock is now, giving Amazon a $1.02 trillion valuation.

The target price for Apple is around $216.40. That would value Apple at $1.05 trillion.

James McQuivey of Forrester Research wrote in a recent report that he thinks Amazon will pass Apple -- mainly because consumers like Amazon better. According to a recent survey by Forrester, Amazon was deemed more trustworthy than Apple.

Apple and Amazon aren't the only tech behemoths worth around $1 trillion.

It's altogether possible that Google owner Alphabet and/or Microsoft could leap ahead in the market cap race. Alphabet is now worth about $875 billion while Microsoft's market value is nearly $840 billion.

Article Comments

Mason City
Overcast
20° wxIcon
Hi: 36° Lo: 23°
Feels Like: 8°
Albert Lea
Overcast
19° wxIcon
Hi: 35° Lo: 24°
Feels Like: 9°
Austin
Overcast
21° wxIcon
Hi: 37° Lo: 25°
Feels Like: 12°
Charles City
Overcast
23° wxIcon
Hi: 33° Lo: 22°
Feels Like: 13°
Rochester
Overcast
21° wxIcon
Hi: 34° Lo: 23°
Feels Like: 9°
Sunny and cooler day for Friday
KIMT Radar
KIMT Eye in the sky

Latest Video

Image

Judge halts Honken execution

Image

It's all for the coach

Image

Thanksgiving for $100 or less?

Image

West Hancock wins state

Image

Chris' PM Weather Forecast 11/21

Image

Turkey Feast on a budget

Image

Preventing Suicide in Ag Communities

Image

Eagles are State Champs!

Image

NIACC Funding Referendum

Image

MN Kindness Week

Community Events