The race to a trillion is on and Apple Inc. (AAPL) remains the odds-on favorite.
Despite Friday's dip, Apple's gains since reporting stronger-than-expected earnings and a big share buyback program in May have put it within a stone's throw of becoming the first company to ever post a $1 trillion market cap.
As of Wednesday's close, Apple shares only needed to increase about 5% to reach the astonishing 13-figure mark.
But some of Apple's big tech rivals aren't too far behind. In fact, the companies with the five-largest market caps in the world are all U.S.-based tech firms. Trailing relatively close behind Apple is e-commerce and cloud giant Amazon.com Inc. (AMZN) with an $823-million market cap, as of June 5, needing to rise about 22% to get to a trillion-dollar valuation. And that might not be that hard, considering Amazon shares are already up more than 70% in the last year.
Also hovering around the $800 million market cap are Alphabet Inc. (GOOGL) and Microsoft Inc. (MSFT) , with both needing about 25% to 30% gains to cross the line. And in fifth place is social media giant Facebook Inc. (FB) at $559 million, with its shares needing to increase by about 79% to get to the coveted mark.
Apple, Amazon, Microsoft, Alphabet and Facebook are holdings in Jim Cramer's Action Alerts PLUS member club. Want to be alerted before Jim Cramer buys or sells AAPL, AMZN, MSFT, GOOGL or FB? Learn more now.