If the favorable trend continues, Amazon could soon be following Apple in hitting the USD$1 trillion valuation - the second to do so after the iPhone maker.
Shares of the Jeff Bezos-led company hit a record-high 2 percent on Monday, a report from CNN indicated. This is nearly 65 percent increase rate that the e-commerce behemoth has shown this year.
Further predictions from financial analysts look into the online retailer's capacity to further upsurge its sales to 32 percent - which translates to USD$265 billion, just for 2018 alone. Earnings per share are also reportedly expected to triple by then.
As of the time of this writing, the mega-cloud company is worth about USD$940 billion. To reach the trillion cap, Amazon's stocks need to increase by almost 10 percent - which is about USD$2,100 per share, from the present price.
Experts at JPMorgan previously pointed out Amazon's potential to eventually reach the target valuation, given the company's decision to invest more in "major growth opportunities," a report from Business Insider indicates.
Moreover, studies from Forrester Research pointed out that Amazon might soon get past over Apple if the former could maintain its market momentum. James McQuivey, head of research, said that Amazon holds more appeal than the Mac maker. In fact, the Forrester survey indicated that in terms of branding, Amazon appears more trustworthy than Apple.
However, the Seattle, Washington-based firm still has to look over its shoulders since it is not the only one running the race.
Google and Microsoft, for example, are also in the rise to becoming trillion dollar-worth publicly traded companies. Google, which runs under the much larger Alphabet, Inc. is currently valued at USD$875 billion. Bill Gates' tech firm, meanwhile, is worth USD$840 billion.
Prime Day Sale Records
As previously reported on this site, one of the main factors that contribute to Amazon's surprising market performance in 2018 is its Prime Day Sale.
In Q2 of this year, Amazon reported an all-time high sales record of over USD$100 million just for the recent retail event.
Looking at this rate, it appears that the cloud retail store has grown its value by 123,000 percent since it was first listed on Nasdaq in 1997.
From being an online bookstore, Amazon has expanded its product and service portfolio to include video download/streaming, music download/streaming, audiobook download/streaming, and sales of electronics, food, fashion, and home improvements.
Home-grown products such as Kindle e-readers, Fire tablets, Fire TV and Echo, are some of the latest offerings by Amazon.
