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Amazon back on cusp of $1 trillion value after seven days of market gain

Amazon has added about $128 billion in market value since the end of May.

Jeran Wittenstein | Bloomberg 

Jeff Bezos
Amazon boss Jeff Bezos.

Amazon.com Inc. is flirting with a $1 trillion valuation again after posting its longest winning streak since briefly surpassing that level in September.

Seven consecutive days of gains boosted the e-commerce giant’s market value to $993 billion as of Wednesday’s close, according to data compiled by Bloomberg. A gain of 0.8% on Thursday pushed the market capitalization slightly above the 13-figure mark.

Amazon has added about $128 billion in market value since the end of May. Nearly half of those gains have come in the past seven days. If the stock’s gains hold on Thursday, it would be the longest winning streak in a year.

Microsoft Corp. is currently the largest company with a market value of $1.061 trillion. Apple Inc. was long the world’s largest company, but hasn’t regained all of the market value it lost late last year amid concerns about demand for the iPhone, its top selling product, and the U.S. trade war with China. Apple has a current market valuation of $937 billion, down from an October record of $1.121 trillion.

First Published: Thu, July 11 2019. 19:53 IST
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