The US electronics giant Amazon overtook Google’s parent company Alphabet by market capitalization, becoming the second-largest market valuation company in the country based on stock price. However, the online retailer still has a long way to go before catching Apple, CNN Money is reporting.
Amazon’s market capitalization reached $ 768 billion on Tuesday, surpassing that of $ 762 billion in Alphabet, according to S & P Global Market Intelligence. Apple’s market rating, however, remains much higher – $ 889 billion. On Tuesday, Amazon ended the session at $ 1 586.51 a share, rising with 2.69%.
Amazon’s stock has been rising fast in recent weeks. The company passed Microsoft from third place market capitalization on February 14th.
The rise in Amazon’s stock price has led to an increase in the personal wealth of Chief Executive Jeff Bezos, who is currently the richest man in the world.
He became the first American billionaire to cross the $ 100 billion personal wealth line this month, thanks to his 16 percent stake in Amazon, which he founded at a 1994 Seattle garage. According to Forbes’s world-wide billionaire list, is estimated at 131.1 billion dollars.