Amazon Became the World’s Second Most Valuable Company, Tops Alphabet

The e-commerce giant, Amazon is termed as the second most valuable company in the world. It even surpassed Google’s parent company, Alphabet with few billions and Amazon became the world’s second most valuable company.

As evident, Amazon’s stock were rising high from the last two years and yesterday the it reached its milestone. By valuing at $768 billion, Amazon officially became the world’s second most valuable company, surpassing Alphabet for the very first time which valued $716 billion.

Both companies are still far behind Apple. Apple, which has remained the most valuable company in the world since 2012, boasts a market capitalization of $889.17 billion.

Apple’s market cap would reach $1 trillion around a month later if its stock price continued to rise at the 25 percent pace seen over the past year. When we compare it to Alphabet, it’s stock has risen 4 percent so far in 2018 and is up 26 percent in the past year.

According to Thomson Reuters data, the median of analyst price targets for the three companies put Amazon’s market capitalization at $823 billion, Alphabet’s at $914 billion and Apple’s at $989 billion.

Analysts are also arguing that may be ongoing Facebook scandal will have some bad impact on Amazon too. Lets see whether Amazon’s stock with keep on growing or it will see a major set back in future?

Also Read: Amazon Reportedly Designing Its Own AI Chips

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Fizza Atique

Fizza Atique is a Tech writer specializing in the intersection of tech and culture. She likes photography, VR, electronic music, coffee, and baking.

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