Menu
Apple under threat as Amazon’s stock market value hits $900B

Apple under threat as Amazon’s stock market value hits $900B

Tech giant sold more than $100 million products during annual Prime Day sale

Amazon.com's stock market value has reached US$900 billion for the first time, marking a major milestone in its 21-year trajectory as a publicly listed company and threatening to dislodge Apple as Wall Street's most valuable jewel.

After Jeff Bezos founded the online book-selling company in his garage in 1994, Amazon survived the dot-com crisis and then expanded across the retail industry, altering how consumers buy products and setting off a Darwinian struggle among brick-and-mortar stores.

After announcing that it sold more than $100 million products during its annual Prime Day sale, the Seattle, Washington company's stock briefly touched US$1,858.88, giving Amazon a stock market value of US$902 billion.

It later reversed, trading down 0.16 per cent for the session.

Amazon's stock has surged more than 57 per cent in 2018, bringing its increase to over 123,000 percent since it listed on the Nasdaq in 1997.

An investor who bought one share of Amazon for $18 in the IPO would now have an investment worth more than $22,200, including three stock splits in the 1990s.

Amazon, video streaming service Netflix and a handful of heavyweight technology companies have fuelled Wall Street's rally in recent years and they remain key parts of portfolio managers' portfolios.

Apple replaced Exxon Mobil in late 2011 as the U.S. company with the largest stock market value.

The Silicon Valley company's shares have risen 12 per cent in 2018, bringing its stock market value to US$935 billion.

The calculations for Apple and Amazon's market capitalisations are based on the number of shares outstanding in their March-quarter reports.

Amazon has increased its share count by over one million shares per quarter in recent years, and if it continued that in the June quarter, its stock market value may already have exceeded US$900 billion.

Amazon reports its results on 26 July and Apple, which has been reducing its share count through buybacks, reports its June-quarter results on 31 July.

As Amazon expands into grocery retail through its acquisition of Whole Foods Market last year, and as more businesses move their IT departments onto the cloud, its stock price has been red hot, recently trading at 111 times expected earnings, compared to more-profitable - but slower growing - Apple’s valuation of 15 times earnings.

Amazon dislodged Microsoft as the no.3 U.S. company by market capitalisation in February. Since then, Microsoft has been overtaken by Google-owner Alphabet.

(Reporting by Noel Randewich; Editing by Frances Kerry)


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags MicrosoftGoogleAppleamazonJeff Bezos

Featured

Slideshows

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners

More than 500 channel leaders gathered in Auckland on 21 October at the ​Reseller News Innovation Awards ​2020 to celebrate the achievements of the New Zealand technology industry's top partners, start-ups, vendors, distributors and individuals.

Channel gathers to celebrate the Reseller News Innovation Awards 2020 winners
Meet the winners of the 2020 Reseller News Innovation Awards

Meet the winners of the 2020 Reseller News Innovation Awards

Reseller News honoured the standout players of the New Zealand channel in front of more than 500 technology leaders in Auckland on 21 October, recognising the achievements of top partners, start-ups, vendors, distributors and individuals.

Meet the winners of the 2020 Reseller News Innovation Awards
Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners

This year’s Reseller News 30 Under 30 Tech Awards were held as an integral part of the first entirely virtual Emerging Leaders​ forum, an annual event dedicated to identifying, educating and showcasing the New Zealand technology market’s rising stars. The 30 Under 30 Tech Awards 2020 recognised the outstanding achievements and business excellence of 30 talented individuals​, across both young leaders and those just starting out. In this slideshow, Reseller News honours this year's winners and captures their thoughts about how their ideas of leadership have changed over time.​

Meet the Reseller News 30 Under 30 Tech Awards 2020 winners
Show Comments