Info-tech

Amazon back to $1 trillion valuation after 7-day streak

Bloomberg July 11 | Updated on July 11, 2019 Published on July 11, 2019

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

Seven consecutive days of gains have boosted the e-commerce giants market value to $993 billion as of Wednesdays close, according to data compiled by Bloomberg. A gain of less than 1% for the stock would push the market capitalization above the 10-figure mark.

Amazon has added about $119 billion in market value since the end of May. Nearly half of those gains have come in the past seven days, which comprises Amazons longest string of advances since September 4.

Microsoft Corp. is currently the only company with a market value above $1 trillion. Apple Inc. was long the worlds 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 US trade war with China. Apple has a current market valuation of $935 billion, down from an October record of $1.12 trillion.

Published on July 11, 2019
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