Apple and Amazon lead market value of $1 trillion

Tinuku - Apple Inc appeared to be flying solo to a $1 trillion market value, but Amazon is right at its heels and have no fears of a tech bubble. Apple at $939 billion remains the highest-valued private company on the global markets and could well cross the $1 trillion finish line after it releases its quarterly results Tuesday.

But Amazon is right behind. On Friday, its market cap reached $917 billion, before finishing at $882 billion. Google's parent company Alphabet ($886 billion) and Microsoft ($827 billion) are also on track, while Facebook ($505 billion) is out of the race, having shed $119 billion in value after results released Thursday.

Tinuku Apple and Amazon lead market value of $1 trillion

The biggest traditional economic players billionaire Warren Buffet's holding company Berkshire-Hathaway ($492 billion) and bank JPMorgan Chase ($395 billion) have been relegated to mere spectators. State oil company PetroChina briefly broke the $1 trillion barrier in 2007 during its initial public offering, but has since dropped back down.

Analysts insist the situation is a far cry from that in the late 1990s, when several start-ups exploded on Wall Street only for the "" bubble to burst. Apple's price/earnings ratio stands at 18.62, underperforming the S&P 500 (20.86), the index representing the 500 biggest businesses on Wall Street.