Macquarie Equities has estimated that e-commerce giant Amazon will be the first company to have a value of $1 trillion, leaving Apple behind.
Amazon’s shares soared after the release of blockbuster quarterly results. Macquarie raised its price target on Amazon to $2,100 a share from $1,750. According to analysts, its key businesses exceeded expectations considerably. Shares of the online shopping behemoth gained 65% in a year.
Macquarie noted that Amazon will be able to obtain significant shares of almost all of its competitors in the retail trade and boost the number of its shoppers. At the same time, the company actively promotes its cloud computing and advertising divisions.
Amazon is now $100 billion behind Apple in market value. Apple’s shares have sharply declined recently.
