Amazon passes Microsoft and becomes Wall Street's most profitable company – 07/01/2019 – Market



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Amazon overtook Microsoft (7) on Monday and became the most valuable company in the world with a market value of $ 797 billion at the end of the session. Shares of the technology giant closed the day at $ 1,629.51, up 3.4%.

Last week, Bill Gates' company was leading the capitalization. On Monday, Jeff Bezos' company closed the day with a value of 784 billion dollars and its shares traded at 102.6 dollars, up 0.1%.

Apple, which for a long time remained in the race for recovery, is trying to recover from the sharp recession recorded last week, when stocks fell 9% after the company revealed a drop in its share price. Business for its first fiscal quarter.

At the second trading session, Apple's shares traded at $ 147.93, down 0.2%. Its market value is the third largest, at $ 147.85 billion.

In early December, Amazon overtook Microsoft after Apple lost its leading position. Tim Cook's company lags behind Google's parent company, Alphabet, but regained its position of number 3.

Amazon shares gained about 8% in 2019, but remain below 20% maximum.

In addition to the e-commerce giant, Netflix helped boost the second session following gains on Wall Street, with the resumption of trade talks between China and the United States.

Netflix ended the day with a high of 5.97% and shares listed at $ 315.34.

The Dow Jones index rose 0.42% to 23,531 points; the S & P 500 index gained 0.70% to 2,549 points, while the Nasdaq rose 1.26% to 6,823.

Amazon told the Verge technology site to have sold 100 million of devices equipped with this technology of the artificial intelligence company Alexa.

According to badysts quoted by the Wall Street Journal, Amazon's 25% drop in the last quarter led investors to buy stocks earlier this year, which favored the market. In August, Apple reached the $ 1 trillion mark in market value, followed by Amazon, which reached the same value the following month.

With Reuters

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