Amazon Expected to Beat Apple to $1 Trillion Valuation This Summer

AP Photo/Reed Saxon

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Apple currently holds the position as the most valuable company in the world, but experts believe that Amazon could end up overtaking the firm.

According to Reuters, the current prediction in Wall Street is that the e-commerce giant is closing in on the iPhone Maker. It could soon reach the $1 trillion valuation mark.

When Apple announced the iPhone X last year to mark its 10th anniversary, stock grew by as much as 24 percent. However, despite having a current market capitalization of $893 billion, this success could soon stagnate.

Amazon is currently worth an estimated $752 billion. But as Reuters reports, its stock has grown by 83 percent within the last year or so – suggesting that it could beat Apple by the summer.

The fact is, more and more people are going online to do their shopping. And it seems that most consumers don’t really need a $1,000 smartphone.

As well as growth in Amazon’s retail business, AWS – which is the cloud computing arm of the company – has also seen lots of demand in recent times. This is because firms are continuing to implement digital transformation plans.

Then there’s Amazon’s recent collaboration with Berkshire Hathaway and JPMorgan. At the start of the year, the firms announced that they will be launching an affordable healthcare services for employees.

Since then, Apple has also unveiled plans to set up a string of health clinics to provide cheap and effective healthcare to its staff members. It will launch in the spring.

In February, the tech giant said its employees will get access to concierge-style service “enabled by technology.” Apple is planning to hire a team of medical professionals, too.

“The centers offer a unique concierge-like healthcare experience for employees and their dependents,” according to the website of the service.

“Candidates must have an appreciation for the patient experience and passion for wellness and population health – integrating best clinical practices and technology in a manner that drives patient engagement.”

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