Amazon is currently on the way to defeat the reigning tech giants, Apple and Microsoft in their own game. As Microsoft’s market capitalization rate peaked at 2 trillion on Monday, Amazon is on the track to reach that mark in the coming year as its size is increasing at an unparalleled rate.

The company shares are now priced at $ 3,409, with a total market cap of $1.729 trillion. These sterling statistics make Amazon the third biggest U.S public company, trailing right behind Microsoft and Apple. Recent research suggests the likelihood of Amazon crossing the marks set by the two tech giants; The company’s shares are expected to climb by 70% over the next three years, as stated by Jeffries analyst, Brent Thill. This means that Amazon can achieve the $2 trillion market cap by the coming year and can even cross $ 3 trillion in size by 2024.

Amazon likely to hit $2 trillion caps soonThe thrill was quick to add that his estimates don’t account for the “potentially meaningful contributions” yielded from Amazon’s invaluable opportunities across a range of categories including entertainment, home security, and healthcare. According to Brad Gastwirth, technology strategist at Wedbush Securities in Los Angeles Amazon’s rapid surge in value is a clear indication of its successful growth drivers, despite it still being in the early stages of operations in numerous categories. Moreover, Gastwirth also claimed that Amazon could easily throw Apple off its sovereign reign and become the most valuable public U.S company in the next few years.

The company crossed the $1 trillion mark back in January 2020, after 23 years of existence. It is expected to reach the $ 2 trillion mark at the end of this year, or in the initial months of the coming year- still achieving the cap at a much faster rate than Apple. Despite the apparent rise of the business, many analysts have expressed concerns over Jeff Bezos leaving his position as Amazon chief.

However, this shouldn’t be a major cause of concern considering Amazon has other leaders who can run the show as well as Bezos himself. Ben Durbar, a partner at Gerber Kawasaki Wealth and Investment Management has suggested that even if the company was asked to break up, it wouldn’t affect the market value as Amazon has amazing separate businessesand a breakup would perhaps even turn out well for them considering their dominance in multiple industries.