In the race to a $1 trillion valuation, analysts are still betting on Apple over Amazon

Jeff vs. Tim.
Jeff vs. Tim.
Image: Reuters/Joshua Roberts/John Gress
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Yesterday, Amazon’s market capitalization briefly surpassed $900 billion. The jump highlighted that Apple now has competition in the race to become the world’s first $1 trillion company.

Market watchers have been patiently waiting for Apple to break the trillion-dollar threshold: It’s currently valued at just under $940 billion. After Amazon announced that it sold more than 100 million products during the latest Prime Day, the company’s shares hit $1,858.88 yesterday, giving Amazon a stock market value of $902 billion, according to Reuters.

If Apple wants to maintain its title as the world’s most valuable listed company, it needs to watch its back. This year, Apple’s shares have increased by 13%, while Amazon’s are up a whopping 58%.

Which company do analysts actually think will actually reach a market value of $1 trillion?

The average price target for Apple is $198, according to FactSet. Based on the number of shares outstanding reported in March (the latest data), this would give Apple a market value of $973 billion. To get $1 trillion it needs a share price of $203.45—10 out of 22 analysts have set price targets above this.

For Amazon, analysts’ average price target is $1,903, which would give it a market value of $923 billion. To reach $1 trillion, its share price would need to hit $2,061. Just four out of 33 Amazon analysts have published a target price above that.