“Amazon.com‘s market value jumped on Friday morning after its latest earnings report, putting the company closer to overtaking Apple as the largest U.S. firm,” Amrith Ramkumar reports for The Wall Street Journal. “Shares of the e-commerce giant surged as much as 7.9% in early trading Friday to their first all-time record in six weeks, giving Amazon a market value of about $785 billion.”
“Amazon’s stock is now up 35% in 2018, and a further surge could have Amazon passing Apple in market value,” Ramkumar reports. “A 4.6% drop in Apple shares this year recently put the technology behemoth’s market capitalization at about $820 billion, well below its record, according to the latest figures based on the share price and number of shares outstanding.”
“Amazon’s latest record comes after the company delivered a one-two punch, reporting its best revenue growth in more than six years while topping $1 billion in profit for the second straight quarter,” Ramkumar reports. “Amazon recently said it has more than 100 million Amazon Prime members.”
Read more in the full article here.
MacDailyNews Take: Hey, can we interest you in a beautiful, hardcover $299 coffee table book printed on specially milled German paper with gilded matte silver edges, using eight color separations and low-ghost inks which took Apple more than eight years to create?
Yeah, same here. So, we’ll take whatever wake up call actually works to wake Apple up.
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How much would Apple Inc. be worth today had a Jeff Bezos-type CEO taken over the reins instead? – MacDailyNews, November 21, 2017
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