Apple Inc., still the world’s most valuable company, sported a $941 billion valuation at the end of trading on Friday. The iPhone maker reports its third-quarter earnings results after the close of trading on July 31 and needs just a 6 per cent increase in stock price to hurdle over the magical mile marker. Amazon, reporting on Thursday, is a few paces behind with an $880 billion market cap. Though it needs a 13 per cent stock boost, it could conceivably get across the finish line first.
The potential photo finish could come down to the relative strength of their results.
To move the needle forward next week, Apple will need to show annual sales growth with its pricey, top-of-the-line iPhone X and to surpass 41 million iPhones sold during the third quarter last year. But in the past several years, the third quarter has been Apple's weakest for iPhone sales. Consumers know the company announces new iPhones every fall and often hold out for the very latest model or discounts to older ones.
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