Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

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.'

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JPM’s Negyal: Back divis to temper EM volatility

JPM’s Negyal: Back divis to temper EM volatility

Omar Negyal, co-manager of the JPMorgan Global Emerging Markets Income trust, says a dividend approach to emerging markets reduces the volatility of investing in the asset class.

Play WMR: Why Russia will lose this war

WMR: Why Russia will lose this war

Author and journalist Adam Lebor believes a perfect storm is brewing when it comes to the Russian economy. .

Play WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

WMR: Gerard Lyons warns Asia is the real risk, not Russia & Ukraine

Chief economic adviser to London mayor Boris Johnson outlines the geo-political risks in Asia and explains why the risk of another eurozone crisis must not be underestimated.

Your Business: Cover Star Club

Profile: The adviser that tempted Robin Minter-Kemp on board

Profile: The adviser that tempted Robin Minter-Kemp on board

It is rare to meet an impassioned individual who is willing to bang the drum for investment advisory right now

Wealth Manager on Twitter