Back in March, a chart comparing the trajectories of the two stocks showed that Amazon was gaining ground, and a new one posted by Reuters (above) shows the gap narrowing even further.
Apple is still ahead, hitting $950B last month, but the race has never looked closer.
Amazon’s stock market value reached $900 billion on Wednesday for the first time, marking a major milestone in its 21-year trajectory as a publicly listed company and threatening to dislodge Apple as Wall Street’s most valuable jewel.
Amazon got a boost after it announced that it had sold more than $100M worth of products on Prime Day, and its stock has climbed by a massive 57% this year alone. An investor who bought 100 shares for $1800 in the 1997 IPO would today be sitting on more than $2.2M.