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The stock market value of Amazon.com reached $ 900 billion for the first time on Wednesday, marking a milestone in its 21-year trajectory as a publicly traded company and threatening to dislodge Apple as the most valuable jewel of Wall Street.
PHOTO FILE: The logo of the Amazon is seen at the fair of young entrepreneurs in Paris, France, the February 7, 2018. REUTERS / Charles Platiau
SAN FRANCISCO: The market value of Amazon.com reached Wednesday for the first time $ 900 billion , marking a milestone in its 21-year trajectory as a publicly traded company and threatening to dislodge Apple as Wall Street's most valuable gem.
After Jeff Bezos founded the online book business in his garage in 1994, Amazon survived the dot-com crisis.
After announcing Wednesday that it sold more than $ 100 million worth of products at its annual Prime Day sale, the Seattle, Washington, company briefly touched the United States . $ 1,858.88, giving Amazon a stock market value of $ 902 billion. The title of Amazon has risen by more than 57% in 2018, bringing its rise to more than 123,000% since listing on the Nasdaq in 1997. An investor who bought 1 part of Amazon Amazon, the service Netflix video streaming and a handful of heavy tech companies have fueled the Wall Street rally in recent years and they remain key elements of portfolio managers' portfolios.
Apple replaced Exxon Mobil at the end of 2011 as the US company with the highest market value. Shares of Silicon Valley rose 12% in 2018, bringing the stock market value to 935 billion US dollars
To see a chart on Amazon catching up with Apple, click on: https: / / reut.rs/2Jz2SyR
Calculations of the market capitalization of Apple and Amazon are based on the number of shares outstanding in their March reports. Amazon has increased the number of its shares by more than one million shares per quarter in recent years, and if it continued during the June quarter, its stock market value would have already exceeded $ 900 billion. U.S. dollars.
Amazon publishes its results July 26 Apple, which has reduced its number of shares by redemptions, publishes its July 31 results.
While Amazon is growing in the food industry by buying Whole Foods Market last year, more and more companies are moving their IT departments. the cloud, its stock price has been hot, trading recently to 111 times the expected earnings, compared with more profitable growth but slower – Apple's valuation of 15 times the profits.
Amazon dislodged Microsoft Corp as the third-largest US company by market capitalization in February. Since then, Microsoft has been overtaken by the owner of Google Alphabet.
To view a chart on the analyst price targets, click: https://reut.rs/2JygrP1
(Randewich Christmas Report, edited by Frances Kerry)
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