Prediction: 2 Growth Stocks Will Join Apple and Microsoft in the $2 Trillion Club by 2033
Currently, only two public companies have a market capitalization exceeding $2 trillion: Apple and Microsoft. But the global economy will continue to grow in the coming years, and more companies are sure to reach that threshold in time. Here are two growth stocks that could join the $2 trillion club by 2033.
Amazon (NASDAQ: AMZN) currently has a market cap of $1 trillion. That figure would need to grow at 7.2% annually over the next 10 years to reach $2 trillion by 2033, which is certainly doable. Amazon has positioned itself as a key player in e-commerce, cloud computing, and digital advertising, three markets forecasted to grow at a double-digit pace through the end of the decade.
Bears may point to Amazon's weak financial performance last year. Indeed, revenue rose 9% to $514 billion and cash from operations ticked up a mere 1% to $46.8 billion. But those results say more about the economic climate than Amazon. High inflation simultaneously brought about a deceleration in consumer spending and an acceleration in operating expenses, putting pressure on the top and bottom lines. But economic headwinds will fade eventually, and Amazon will still have a strong presence in three growing industries.
Source Fool.com
