Amazon tops Alphabet to become second most valuable US-listed company

Bigger than Google, what can be better. Next step for Jeff Bezos, the founder and CEO of Amazon is probably the TIME magazine cover Person of the Year 2018. Justifications for this are simple – just in February 2018 Amazon for the first time bypassed Microsoft on capitalization and ranked among the top three most expensive companies in the world. At that time, the value of the company was second only to Apple and Alphabet.

Well, the time has come, and Amazon overtook Alphabet on Tuesday to become the world’s second most valuable company, capping a year-long surge that has added about $350bn to its stock market value. When the company you are leading overtakes Microsoft and Google in 2 consecutive months, your ego and self-competence might drive the markets in itself.

With Facebook facing biggest threat to its existence in years, Amazon is feeling powerful. The Corporation is dominant in several businesses, first ecommerce and now cloud. It seems like every day there is another announcement of another business they will go after. Investors talk every day about whether companies are Amazon-proof. What a ride

Amazon shares finished up 2.69% at $1,586.51, for a market capitalization of $768 billion, underscoring Wall Street’s confidence in its relentless expansion into cloud computing, groceries and other new businesses.

Alphabet lost 0.39%, trimming its stock market value to $762 billion, as Wall Street fretted about regulatory fallout following revelations that a political consulting firm had improperly obtained personal data on 50 million Facebook Inc. users.

Together, Alphabet and Facebook dominate online advertising. They have previously faced government criticism for how they employ their user data.

Amazon’s stock has surged 81% over the past year, through Monday, bolstered by scorchingly fast revenue growth as more shopping moves online and businesses shift their computing operations to the cloud, where Amazon Web Services leads the market.

Sources: 

https://www.ft.com/news-feed

https://www.fxstreet.com/news/latest

https://www.ft.com/content/22d08b74-2c8d-11e8-9b4b-bc4b9f08f381? segmentId=a7371401-027d-d8bf-8a7f-2a746e767d56

https://www.fxstreet.com/news/gbp-usd-unemployment-earnings-to-pop-sterling- before-us-fed-201803210344? utm_source=NLsession&utm_medium=email&utm_content=hot-story- headline&utm_campaign=europe-newsletter

https://www.ft.com/content/22d08b74-2c8d-11e8-9b4b-bc4b9f08f381? segmentId=a7371401-027d-d8bf-8a7f-2a746e767d56

http://www.livemint.com/Companies/IgpDc3NbyQ5YxqFDUBSsYN/Amazon-tops- Alphabet-to-become-second-most-valuable-USliste.html

https://www.investing.com/equities/amazon-com-inc