Amazon is the largest online retail store for the whole food and Amazon-branded stores. Also, prime subscribers and website hosting are their secondary business are major reasons that company is earning better.
The company was competing with the Google’s parent company Alphabet Inc. to acquire the second position in the list of most valuable companies. For a long time, Apple is at the top position in the list.
Recently, the retail giant succeeds to acquire the second position in the list. The Amazon acquired the second position with a market capitalization of around US$ 768 billion beating the market capitalization of US$ 761 by Alphabet. Apple has a market capitalization of US$ 889 since 2016.
Amazon’s market valuation increased by 2.69% along with an increase in stock prices whereas, Alphabet’s stock prices fell by 0.39%. These changes lead to change in positions of the company. This growth in Amazon’s stock prices leads to make the CEO and founder of Amazon – Jeff Bezos – to be the richest man in the world with an estimated fortune worth US$ 130 billion.
In this change in positions, Microsoft acquired the fourth position with a market capitalization of US$ 717 billion. Amazon has reached the certain level that grabbing the second position in the list is not the big thing to achieve, but overtaking Apple and acquiring the first position might be the next big thing for them.
However, the difference between these three business giants is so small – around US$ 3 billion – so we can expect again changes in the second position in upcoming days. Google has trapped into the controversy of Facebook’s data scandal, as a result of this their stock price fell by 0.39%. due to this, their position changed from second to third. However, Google was able to maintain the stock prices due to its dominance in the advertisement market and ownership of YouTube.