Loading...
Own A Blog Like This
For Questions, Inquiries, Click Here
Page | Group - Follow us - Call us - Hire Us - [email protected]
Kindly sms FOLLOW RAMMYBLOG To 40404 For Free
rammyblog-bg

Friday, 11 May 2018

Apple is almost a $1 trillion company, but watch out for Amazon


Apple’s market capitalization on Thursday topped a record $934 billion, following its unveiling last week of a $100 billion buyback budget and news that Warren Buffett’s Berkshire Hathaway dramatically increased its stake in the company.
Thanks to a 12 percent rally since its quarterly report last Tuesday, the Cupertino, California company is just 8 percent short of hitting the $1 trillion valuation mark.
Pointing to Apple’s recent 31 percent jump in service revenue, including music streaming and online storage, CFRA analyst Angelo Zino on Wednesday upped his target price for the stock from $195 to $210, which would put Apple’s market capitalization at $1.03 trillion. Zino joins at least 12 other analysts with price targets putting Apple’s stock market value at 13 digits.
But Apple is in danger of being beaten to the $1 trillion mark - or passed soon after - by Amazon.com, the second largest listed U.S. company by market value, at $780 billion.
Saudi Arabian authorities, meanwhile, have said they expect a planned international initial public offering of Saudi Aramco that would value the national oil producer at about $2 trillion.
While $148 billion smaller than Apple on Friday, Amazon of late has expanded its stock price, and its sales, much more quickly than Apple. Amazon’s stock is red hot, trading recently at over 100 times expected earnings, compared to more-profitable - but slower growing - Apple’s valuation of 15 times earnings.
(Big Tech PEs:reut.rs/2wsd0YU )
Reuters Graphic
Apple’s stock has risen 24 percent over the past year, fueled by optimism about the iPhone X, the company’s latest smartphone. But demand for the $1,000 device has underwhelmed investors, and bulls are now focused on Apple’s plan to return more cash to shareholders.
By comparison, Amazon’s stock has surged 70 percent over the past 12 months, bolstered by 31 percent revenue growth as more shopping moves online and businesses shift their IT departments to the cloud, where Amazon Web Services leads the market.
Amazon is also competing more with Apple and Google owner Alphabet as it sells music and video content, its Fire TV device and its Alexa smart home gadget.

Do not be selfish, Kindly Share this post using the Share buttons below. Having Problem? Am here to help, Just comment below and i would reply ASAP.

No comments:

Post a Comment

After dropping a comment, It would take some minutes to appear after moderation.
Keep the Comment flowing in as we deeply appreciate them

You want to get notified when i reply your comment? Kindly tick the Notify Me box.

offeroffer
Own A Blog Like For A CHEAP PRICE, and Start Earning Money Online.

Contact RAMMY Now!