BREAKING NEWS: Apple and Amazon race to become first trillion dollar company
If you asked anyone who would become the first trillion dollar company they would most likely say Apple, Amazon, Microsoft, or Alphabet(the parent company of Google), but it appears Amazon might just get their first. At the start of July, Apple and Amazon were closely match and both well on their way, but a new poll shared by CNBC shows investors are leaning towards Amazon to win.
Apple vs Amazon
The poll, conducted by CNBC at the 8th Annual Delivering Alpha Conference in New York, included nearly 100 investors, of which 70% believe Amazon will be the first trillion dollar company, with just 15% backing Apple. This year, Amazon’s stock is up 56%, compared to Apple’s 14% and Alphabet’s 19%.
Can we trust the investors?
The investors, the majority of whom also think President Donald Trump’s trade policy is the biggest risk to the US economy over the next 12 months, back Apple despite their market cap being sat at $888 billion compared to Apple’s $949 billion. It appears they believe Amazon’s stock percentages will continue to rise:
“The investors may be betting that Amazon’s stunning stock momentum this year will continue as its shares are up 56 percent through Tuesday compared with Apple’s 14 percent gain and Alphabet’s 19 percent return.”