>> Amazon, the e-commerce giant that's disrupting many industries, looks like it's in position to also upend the stock market hierarchy. While it's still about $140 billion in market cap behind the reigning champion Apple, Amazon could beat out the maker of the iPhone in the race toward a market milestone, $1 trillion valuation.
Reuters markets correspondent, Noel Randewich.>> Ever since the launch of the first iPhone, Apple has been the centerpiece of many portfolios on Wall Street. What we're starting to see now is the emphasis being put more on Amazon. Over the past year, Amazon stock has risen about 81%, Apple by comparison is up about 25%.
>> Amazon rose past Microsoft in February, and is now the third most valuable company by market cap, behind first place Apple and runner up Google.>> Amazon obviously began with online retail. It's now deeply into cloud computing, and recently we've seen it move into supermarkets. And now there are signs that it's interested in taking on healthcare and even opening checking accounts.
That just goes to underscore how easily, and from the point of view a competitors, dangerously Amazon can disrupt just about any market that it decides these days that it wants to get into.>> Meanwhile Apple, which got a big bump on optimism about the launch of its anniversary iPhone 10, is worrying investors that demand for the expensive gadget could be weaker than expected.
So what are Wall Street analysts saying about the stocks? On average, they see Apple and Amazon both rising about 10% within the next 12 months. That would put Apple about $10 billion away from the trillion dollar mark, with Amazon still more than $100 billion behind. But if Amazon's performance this year mirrors its climb last year, its market cap would pass the trillion dollar mark in late August, Apple would get there a week later.