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Amazon Vs. Apple: The Showdown At All-Time Highs

Posted July 3, 2024 at 9:45 am
Surbhi Jain
Benzinga

ZINGER KEY POINTS

  • Amazon offers higher growth potential with a 10.17% projected upside, outperforming Apple’s modest 0.86%.
  • Amazon’s recent momentum and market dominance make it a compelling buy over Apple for growth seekers.

As the stock market sizzles in mid-2024, investors are eyeing two tech titans: Amazon.com, Inc. and Apple Inc. Both stocks have hit all-time highs – with Amazon hitting the $200.43 mark and Apple stock hitting the $220.38 mark during day trading on Tuesday.

With both stocks being extremely popular and watched by Wall Street investors, the common all-time-high event raises the burning question: which is the better buy?

Amazon Stock

Amazon’s stock has soared, up 53.59% in the past year and 31.63% year-to-date. It recently touched a 52-week high of $200.43. With a market cap of $2.08 trillion and a P/E ratio of 56.02, Amazon is a heavyweight in tech.

Apple Stock

Apple’s stock has also performed well, up 14.45% over the past year and 14.41% year-to-date, closing at $220.27 on July 2. With a market cap of $3.36 trillion and a P/E ratio of 34.26, Apple remains a market leader.

Source: Benzinga Report

Amazon Vs. Apple

Growth Potential: Amazon shows more promise with a 10.17% projected upside versus Apple’s 0.86%.

Valuation: Amazon’s P/E of 56.02 suggests higher growth expectations compared to Apple’s 34.26, but also higher risk.

Market Position: Amazon dominates e-commerce and cloud computing, while Apple leads in consumer electronics. Apple’s larger market cap and lower P/E might appeal to conservative investors, whereas Amazon’s growth potential attracts those seeking higher returns.

Recent Momentum: Amazon’s stronger recent performance hints at continued upward momentum.

Both Amazon and Apple are stellar investments.

However, Amazon appears to offer better growth prospects with a higher potential upside. Investors looking for robust growth may find Amazon more appealing, while those valuing stability might prefer Apple. As always, investment decisions should align with individual goals and risk tolerance.

Originally Posted July 3, 2024 – Amazon Vs. Apple: The Showdown At All-Time Highs

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One thought on “Amazon Vs. Apple: The Showdown At All-Time Highs”

  • robert knourek

    Apple wants to own the front end to AI services. Good strategy.

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