Apple Inc, the world’s most valuable company which has net-worth greater than many developing companies may settle at the second place because of the e-commerce giant Amazon. The e-commerce giant may surpass $1 trillion dollar mark very soon. With the launch of iPhone 10, the stock gained 24% and settled at the capitalization of $893 billion. Amazon stands at $752 billion which is $141 billion less than the Apple Inc. Amazon is quickly nearing Apple with its new launches and product diversification.
Amazon may cross apple
As the e-commerce is increasing on a rapid rate and the cloud services of Amazon.com is gaining huge momentum, the share price has been 83 percent up over the past one year. Amazon has left Microsoft in the third place in the global markets. Google’s Aplphabet Inc is with $783 billion but the growth rate is at 33 percent which is much less than Amazon Inc. Amazon has expanded its network both in the retail and digital spheres in the recent years. India has been the key market for Amazon.com’s expansion.
In the US, the company is making huge profits with its digital services like Amazon Video, Amazon Apps, Amazon cloud services, Amazon web development services, Amazon Music, Amazon Kindle and Amazon Twitch. Alexa and Music services have been launched in India recently. Alexa and Fire Tv devices are targetting high-end customers. Amazon Music is an add-on to the Amazon Prime customers. Amazon is thinking of adding Amazon household to Indian customers in which all the Amazon customers can add their family members to their account. Amazon has infused nearly 200 crores to its payment services Amazon Pay.