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The $ 1 trillion market race is much closer. 19659005] The Amazon stock peaked at $ 1858.88 on Wednesday after the e-commerce giant announced that more than 100 million products were purchased at its Prime Day sales event. The brief rise pushed Amazon's stock market value to $ 902 billion – the first time that it has exceeded $ 900 billion.
The stock market value of Amazon ended Wednesday at 894 billion dollars, nearly 42 billion dollars. This has marked the narrowest gap between the market values of the two companies since 2006.
Investors, traders and Wall Street badysts have speculated for years about which company would surpbad the billion market value. Apple has been the favorite since it's become the largest publicly traded company in the United States in 2011. Google has also garnered some endorsements. Earlier this year, its market capitalization crossed for the first time $ 800 billion and exceeded $ 34 billion compared to that of Apple
but has now ranked Google on the market. list of the largest US listed companies. Amazon's move above $ 900 billion highlights the rise in its shares over the past nine months. On October 26, 2017, its market capitalization was $ 467 billion, which means that its value has almost doubled during this period. To put this into perspective, the gain in Amazon's market capitalization is greater than the value of JPMorgan Chase, Exxon Mobil or Walmart. In fact, the rise of Amazon would rank it seventh in the Standard & Poor's 500.
In comparison, Apple stagnated during this period. The company's market capitalization initially exceeded $ 900 billion in early November 2017, but since then it has grown only 3.4% until Wednesday's close. .
The time spent by Amazon in this 900 billion club was brief. Its action slid Wednesday and is again slightly down Thursday, bringing its market value to 876 billion dollars.
Apple gained 1% in early trading on Thursday, pushing its market value to $ 950 billion. This puts Apple more comfortably in mind. Yet disappointments or surprises from one or the other could still disrupt the race.
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