Forget Apple, Facebook Could Be The $1 Trillion Company

If any company is to achieve a $1 trillion valuation, it would be Apple Inc. AAPL, right?

Not so fast. CNN Money's Paul LaMonica made the case that Facebook Inc FB could nearly triple in size from its current $350 billion valuation and be worth $1 trillion.

Which of these tech giants will be first to reach a $1 trillion market valuation? Write in Microsoft if you want!

— Paul R. La Monica (@LaMonicaBuzz) July 21, 2016

According to LaMonica, there is simply "a lot to talk about" these days and there is no better place to do so than Facebook's platform.

Naturally, a $1 trillion valuation won't be achieved on Facebook's core social media platform alone. Good thing the company boasts other impressive assets in heavy demand. In fact, Facebook announced this week that its instant messaging service, Messenger, just crossed the one billion monthly active user mark.

Related Link: Facebook Now Has 4 Billion-User Products

Facebook's core social media platform, WhatsApp and Groups also boast more than one billion active users. Meanwhile, the popular picture and video sharing social media platform, Instagram, is halfway there at 500 million monthly active users.

And then there is Facebook's often ignored asset, Oculus Rift that could dominate the virtual reality segment in the years to come.

LaMonica noted that Facebook's stock has many factors working its favor. Other than a 200 percent return since its 2012 initial public offering, Facebook's stock is only trading at 26 times earnings estimates for next year - representing a "much better bargain" than Amazon.com, Inc. AMZN's stock which trades at 75 times profit forecasts.