(Bloomberg) – Shares of Amazon.com Inc. rebounded on Monday, and the advancement raised the company’s market capitalization beyond Microsoft Corp. for the first time in more than a year.
The stock rose as much as 4.5% in its fourth consecutive daily advance, giving the e-commerce and cloud computing company a valuation of about $ 1.66 trillion, or about $ 30 billion more than the capitalization. Microsoft’s market share. According to a Bloomberg data analysis, Amazon last overtook Microsoft in February 2019.
Amazon’s recent gains come amid a growing consensus that the company will highly benefit from the pandemic, which has accelerated a turn toward online retail and fueled demand for cloud computing services.
Among US stocks, Amazon’s rebound means that it is only exceeded by Apple Inc. in size; the market capitalization of the iPhones maker leads, at US $ 1.73 trillion. A rebound in large tech capitalizations and internet stocks also caused Google’s parent Alphabet Inc. to lose $ 1 trillion in market capitalization recently.
Globally, the list is led by Saudi Aramco, the national oil company of Saudi Arabia, which currently has a market capitalization of approximately $ 1.78 trillion.
Nota Original:Amazon Rally Pushes Market Value $30 Billion Beyond Microsoft
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