Investing.com - Amazon (NASDAQ:AMZN), not Apple (NASDAQ:AAPL), will be the first company to have a value of $1 trillion.
That's the view of Macquarie, which raised its 12-month price target in the wake of Amazon's powerful first-quarter earnings.
The Wall Street firm's forecast went from $1,750 to $2,100, based on the grounds that all of Amazon's core businesses are "exceeding
expectations markedly."
Macquarie said it expects the company to continue to "take significant share away from virtually all competitors" in the retail sector, while
also growing its subscription, cloud and advertising businesses.
Amazon's market cap is about $100 billion less Apple's, whose shares have slumped recently.
JPMorgan Chase (NYSE:JPM) and Stifel also raised their forecasts to more than $2,000 a share.
Amazon shares are up 65% over the past 12 months.