Amazon Stock Positioned To Follow Apple As Next To Hit $1 Trillion Cap [Investor's Business Daily]
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Source: Investors Business Daily
Related news With Amazon stock up 61% this year and near a record high, the e-commerce giant is on track to become the second company to exceed the $1 trillion market cap milestone, following the recent trail of Apple ( AAPL ). X Analyst Brian White at Monness Crespi Hardt said in a note to clients Wednesday that he expects Amazon ( AMZN ) to hit the $1 trillion mark by the end of this year. Apple reached the threshold two weeks ago. The current market valuation of Amazon is $921 billion. White thinks Amazon will achieve it based partly on the strength of its cloud-computing unit, Amazon Web Services. "As the No. 1 public cloud vendor in the world and enterprises feverishly shifting workloads into the cloud this year, AWS has shined with the highest growth rate among Amazon's three major business segments," White wrote. He expects AWS to reach $25.5 billion in revenue this year, up 46% from the year-ago period. Last week, White noted, Samsung Heavy Industries selected AWS as
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