Apple, Amazon near finish line in race to $1 trillion value

Apple is close to becoming the first company to reach $1 trillion in value, racing ahead of e-commerce giant Amazon.

Apple owned a market capitalization of $982.6 billion as of midday Wednesday, according to FactSet, the highest value for any U.S. publicly traded company.

Amazon, whose shares have surged about 52% since the start of 2018, is worth $868.8 billion.

Google’s parent company, Alphabet, ranks third, followed by fellow tech giants Microsoft and Facebook. The social media company recently lost billions in market value, as Facebook shares tumbled 20% in one day.

Here’s the full breakdown of market caps for the five largest companies:

  1. Apple ($982.6 billion)
  2. ($868.8 billion)
  3. Alphabet ($855.4 billion)
  4. Microsoft ($813.5 billion)
  5. Facebook ($497.3 billion)

This article has been updated.