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Amazon (AMZN) is projected to surpass Apple as the most valuable publicly traded company by the end of 2026. The company’s expansion in artificial intelligence (AI), cloud computing, and e-commerce continue to drive its market growth, positioning it to challenge Apple’s current lead in market capitalization.
As of February 26, 2025, Apple holds a market value of $3.71 trillion, while Amazon stands at $2.26 trillion. Analysts suggest that if Amazon’s stock price rises by 54%, its market capitalization could surpass Apple’s current valuation.
According to the London Stock Exchange Group (LSEG), Amazon has consistently exceeded Wall Street’s earnings expectations, outperforming consensus estimates by an average of 29% over the last six quarters. Analysts forecast a 17% annual earnings growth through 2026, though historical trends indicate actual performance could exceed those projections.
AI plays a crucial role in Amazon’s strategy. The company leverages AI to optimize its retail business through product recommendations, inventory management, customer service enhancements, and fulfillment efficiencies. “We have a number of very significant, I’ll call it, productivity and cost-savings efforts in our retail business that are using generative AI,” CEO Andy Jassy said in the fourth-quarter earnings told analysts.
Morgan Stanley analysts believe Amazon’s continued AI investments will strengthen its position in e-commerce, enabling it to “deliver more items faster and more profitably than peers.” The global e-commerce market is projected to grow at an 11% annual rate through 2030, a trend that could further enhance Amazon’s financial outlook.
Amazon Web Services (AWS), the world’s leading cloud computing platform by revenue, is another key factor in the company’s anticipated growth. Public cloud spending is expected to rise by 21% annually through 2030, providing AWS with additional revenue opportunities. Over the past two years, AWS has launched nearly twice as many machine learning and AI-driven features as its competitors, solidifying its technological edge.
If Amazon continues to exceed market expectations in both retail and cloud computing, its stock could rise significantly and position it as the world’s most valuable company.
