Categories LATEST, Technology

Morgan Stanley just predicted the next trillion dollar company!

In an investor note on Wednesday, rating firm Morgan Stanley predicted the company it expects to hit the 13-digit market cap after Apple (AAPL). No surprises here – it’s Amazon (AMZN). Reiterating its overweight rating, Morgan Stanley raised the price target on the stock to $2,500 from $1,850, which would value the e-commerce giant at over $1.2 trillion.

With the latest rating announcement, Morgan Stanley has become Amazon’s biggest bull.

second trillion dollar company

According to analyst Brian Nowak, Amazon’s lucrative cloud service and rapid growth in advertising are expected to drive the company’s top-line further. He estimates profits from these two to hit about $25 billion this year and as much as $45 billion in the next two years.

Amazon shares were up 1.5% to 1,963.62 at 10:30 AM ET on Wednesday. The stock has rallied 65% so far this year, while the S&P 500 index is up just 8%.

In a separate note, the rating firm also raised the price target of Google parent Alphabet (GOOGL) to $1,515.

Also see: Why $1 trillion is just a pit stop for Apple

On August 2 this year at around 12 PM, Apple became the first trillion dollar US company, riding on a post-earnings rally, putting an end to months of speculations.

PetroChina, China’s second largest oil producer, is the first public company to breach the trillion dollar figure. The company touched the mark in November 2007 on Shanghai Stock Exchange, and in the following four months, tumbled to half its value.

Most Popular

Intensity Therapeutics is establishing a new field of localized cancer reduction: CEO

Intensity Therapeutics, Inc. (NASDAQ: INTS) is a clinical biotechnology company engaged in the discovery development, and commercialization of first-in-class cancer drugs that attenuate tumors with minimal side effects while training

INTU Earnings: Intuit Q1 2025 adj. profit rises on higher revenues

Financial technology company Intuit Inc. (NASDAQ: INTU) Thursday announced results for the first quarter of 2025, reporting a modest increase in adjusted earnings. The Mountain View-headquartered company’s first-quarter revenue came

Riding the AI wave, Nvidia looks set to stay on the high-growth path

After delivering strong results for the third quarter, Nvidia Corporation (NASDAQ: NVDA) this week said the launch of its new-generation Blackwell chip is on track. The company is thriving on

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top