Apple nears $1 trillion valuation mark

Updated:8 months ago IST

New Delhi, May 14 (ANI): America's multinational technology company Apple is getting closer to becoming the first $1 trillion United States public company. The stock market values it at $964 billion. The iPhone maker's shares recently surged after it unveiled its budget to buy back $100 billion worth of shares. The move by Warren Buffett's Berkshire Hathaway to significantly boost its stake in the company. Amazon is at number 2 with a market capitalization exceeding $780 billion. Its stock is hotter, surging 70 percent over the last 12 months, compared to Apple's 24 percent rise during that period. If Apple's stock keeps growing at last year's pace, the company's valuation would hit $1 trillion in September. But Amazon would reach that mark the following month and soon overtake Apple. Boosting Amazon's momentum, more consumers keep flocking online to do their shopping and more businesses keep moving their IT departments to the cloud.

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