Amazon, Microsoft, and Alphabet are locked in a tight race to become the second publicly-listed US company to reach a $1 trillion stock market value after Apple became the first to touch the 13-digit milestone.
Wall Street’s optimism about last year’s 10th anniversary iPhone, coupled with record share buybacks, have propelled Apple’s stock 34 percent higher over the past 12 months, pushing the company’s stock market value above $1 trillion on 2 August.
The Cupertino, California company’s shares added another 0.3 percent on 3 August, putting its market capitalization at $1.005 trillion.
Together with Facebook, the five largest US companies account for 15 percent of the S&P 500.