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Why Amazon will steal Apple's crown as globe's biggest firm

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by Sarah Miloudi on Nov 30, 2011 at 14:40

Why Amazon will steal Apple's crown as globe's biggest firm

Apple and Exxon have tussled over the globe's largest company crown in recent months, but over the next decade it will be Amazon that holds this coveted billing.

Walter Price, manager of the £77.3 million RCM Technology Trust, says that despite a temporary blip in third quarter profit internet retailer Amazon will continue to thrive.

Price, who over thee years has returned 78.1% versus 47.08% by the FTSE World Index, believes that in 10 years time the Kindle creator's revenue will have risen by at least 50%, with sales of its new tablet device and the continued move towards cloud computing driving this surge.

'The new Kindle Fire looks to us like a big winner for Amazon,' Price said.  'We think it's going to be the biggest retailer in the world.  It is building a logistic system that will create a big barrier to entry in the market.  Amazon is the leading cloud computing company in the world.  It is going to grow 70% this year and that growth rate seems to be accelerating.'

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