After joining the exclusive $1 trillion club, Amazon has grabbed the dominant position of the World’s most valuable listed company. Led by Chief Executive Jeff Bezos, Amazon has seen significant growth as its business has spread beyond its roots as an online bookseller to countless other retail categories. Amazon stole Microsoft’s spot as the most valuable publicly traded Company Monday morning with a market capitalization of $797 billion versus its opponent’s $785 billion, according to the reports. Amazon’s market capitalization surpassed $1 trillion in September, but a late-year stock market breakdown resulted in the shocking quarter for the shares since the 2008 collapse. However, after rallying in three of the first four trading days of 2019, Amazon is No. 1.
Apple share prices have been under pressure among fears that Donald Trump’s trade war with China will retain back economic growth. It marks the first time Amazon has held the top spot and ends Microsoft’s brief return to the peak after it exceeded Apple in late November. Technology stocks and other industries that produce a substantial chunk of revenues outside the U.S. are among those that have been severely affected by the market volatility. The move has been triggered by mounting worries that the Trump administration’s trade war with China and growing interest rates will overwhelm the worldwide economy. If that were to happen, it’s likely to slow the growth of businesses in technology and other industries that generate a considerable chunk of their revenue outside the U.S. Amazon, despite climbing ahead of Microsoft, is worth a fifth less than in September when its value peaked at more than $1tn.
In recent months, Amazon, Microsoft, and Apple and have been contending to be the world’s most valuable public company after years of supremacy by Apple. November marked the first time that Microsoft had beaten Apple in eight years amid concerns by investors about Apple’s growth. Last week, CEO Tim Cook confirmed those concerns by announcing that his company’s revenue would be lesser than expected because of poor iPhone sales. Apple’s shares, which had been descending for several months, took another hit and are now down nearly 36% from their peak in October. Apple confirmed some of the investors’ worst fears last week when it warned that disappointing demand for iPhones, especially in China, caused its revenue for its most recent quarter to fall well below the projections of its management and industry analysts.
Tim Jones is a contributing writer for this publication covering the business of technology, software development, and healthcare. He looks after most of the content which is been produced and manages to put it in well-mannered form. He also has knowledge of various health topics, and proficiency in word processing software and interactive technologies. He studied biology at the University of Texas and received a graduate degree in science, health, and environmental reporting from NYU. [firstname.lastname@example.org]