AAPL Aug 2024 215.000 call

Amazon well-positioned in 'battle of the AI titans': Analyst

Amazon's (AMZN) market cap ascended to a $2 trillion valuation last week, while other tech giants Apple (AAPL), Nvidia (NVDA), and Microsoft (MSFT) teeter back and forth between holding the title of most valuable company. Maxim Group managing director and senior consumer internet analyst Tom Forte is favoring Amazon in the next chapter of the AI race and broader Big Tech growth. "I think there's an opportunity that their [Amazon] health care initiatives can help them hit the $3 trillion mark. More likely it'll be... advertising, e-commerce, cloud computing growth," Forte tells Market Domination. "I think they're very early stage in their efforts. But I do think there's a potential, given that it's a huge total addressable market [TAM] and maybe one that's potentially ripe for disruption..." Forte also comments on Apple's own AI initiatives and whether Amazon investors should view regulatory crackdowns as "just noise." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.