- The $1 trillion valuation mark is now behind Apple, and Wall Street is looking to see which company crosses that milestone next.
- Amazon, Alphabet and Microsoft are quickly closing in, but are each still more than $100 billion away.
The $1 trillion valuation mark is now behind Apple, but three more technology companies are quickly closing in on the milestone.
Amazon, Alphabet and Microsoft are the next biggest companies racing to $1 trillion market capitalization, each closing in on the mark yet still over $100 billion away. Here's what it would take to get the nine U.S. companies below Apple to $1 trillion:
Wall Street expects Amazon shares to rise over 15 percent over the next year, which is just enough for the e-commerce giant to reach $1 trillion. Microsoft is a bit behind and will not likely surpass $1 trillion over the next 12 months, according to analysts. And while Wall Street expects Berkshire Hathaway to grow the most over the next year, it still has a very long way to go to reach the four comma club.
Apple is expected to cool off, with Wall Street projecting a small amount of growth for the company. The subdued bullishness on Apple's share price is likely related to a more modest pace of iPhone sales, according to several Wall Street analysts, who told CNBC on Thursday that consumer demand for more innovation has forced the Cupertino, California-based company to increase the price of its phones.
Correction: This story has been updated to correct the percentages in the first chart.