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Move over Apple, Amazon could be worth $2.5 trillion by 2024

Move over Apple, Amazon could be worth $2.5 trillion by 2024
[Photo: Free-Photos/Pixabay]

That’s according to a new report from MKM Partners, reports CNBC. While a $2.5 trillion valuation is a long way off from Amazon’s current market value of around $929 billion, MKM Partners says Amazon could achieve the milestone through growth in its popular Amazon Web Services cloud storage solutions. MKM thinks Amazon’s AWS could be worth $1 trillion in the next few years alone. Add to that continued growth in Amazon’s other operations, and the company hits $2.5 trillion easily.

A few years ago trillion-dollar public companies seemed like nothing more than a daydream. But earlier this month, Apple became the first public company in history to surpass a trillion valuation. Given that Amazon is only around $70 billion away from a trillion market cap, it’s conceivable that 2018 could see two trillion-dollar public companies. Then the question is: Who gets to $2 trillion first?

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