With a market capitalization of 3.7 billion dollars, which makes it the second most valuable company in the world. apple (NASDAQ: AAPL) it is always in a good position to stay close to the pile.
However, while the “apple” may not fall far from the tree anytime soon, here’s how some of the “Magnificent Seven” stocks could end up being worth more than the iPhone maker: Amazon (NASDAQ: AMZN) and Meta Platforms (NASDAQ: META).
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Already among the biggest tech companies, both are investing heavily in the growth of artificial intelligence (AI). According to this model, each could generate economic returns high enough to justify a market share exceeding that of Apple by 2035.
Few would call Amazon an AI front runner, but this perception could change in the next few years. Already a dominant player in the cloud computing market with its Amazon Web Services (AWS) division, the company is benefiting from the growing demand for business computing power.
Better yet, it’s not just through AWS that Amazon is using AI technology to not only compete, but dominate the market. Amazon continues to build its advertising business. Once part of the “managed” business, the advertising business now generates nearly $60 billion in annual sales. AI has also proven to be instrumental in the growth and profitability of Amazon’s legacy retail business.
Put it all together, and it’s easy to see Amazon surpassing Apple in the next 10 years. With a total market capitalization of $2.27 trillion, the company has its work cut out for massive growth, but is still within the realm of opportunity.
Meta Platforms, the parent company of Facebook and Instagram, was actually one of the technology companies that made the fastest profit from the start of AI that generates. Quickly changing gears from the metaverse to AI starting towards the end of 2022, in 2023, the company had a growth process again, since the integration of this latest technology has led to a large income of its social media platforms through advertising. That year, revenue increased by 16% and EPS rose by 73%.
With a current market cap of just $1.4 trillion, Meta has to leapfrog Amazon in order to close Apple’s market share. However, give the Meta ten years, and this is well within reach. It has already begun to make money from AI in areas beyond online advertising, such as AI-enhanced clothing, if Meta can continue to develop AI-related income sources beyond that of the circular advertising market, not only can the shares rise with increasing profits, the company’s value can also rise.
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