Market 03 Aug
The US hosts couple of the worlds most valued companies that include Apple, Amazon, Microsoft to name a few. While the Cupertino tech giant Apple and Amazon were a few months back in the race to become the world’s first trillion dollar company, Apple was able to hit the finishing line first and made history. Soon after, Amazon was believed to hit the trillion dollars milestone soon. That point in time has finally arrived when the stocks of the Amazon rose to $2050.27 helping Amazon to hit the trillion dollar market valuation mark.
Microsoft, on the other hand, is also expected to become a trillion dollar company by 2020. Considering the market fluctuation, Amazon got the crown for a brief moment, as the stock value dipped to $2035 64 later in the afternoon, though this spike in the shares was good enough to help Amazon make the history right after Apple.
Amazon’s shares grew by 70 percent this year. A market analyst Mark Mahaney shared:
“Yes, Amazon did really well in online retail, but then the stock gapped up when they showed that they could become successful in the cloud,”
Amazon did extremely well in the online retail while the company is growing its portfolio faster than ever before thanks to its growth in the cloud technology and the purchase of the Whole Foods Market in 2017 which came out to be a very beneficial decision for the tech giant. Analysts believe that Apple would still maintain its lead as the world’s top company maintained due to its world-changing technology like autonomous driving cars and more.
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