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Amazon Flirts With $1 Trillion Value Amid 8-Day Rally Streak

Jeran Wittenstein
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Amazon Flirts With $1 Trillion Value Amid 8-Day Rally Streak

(Bloomberg) -- Amazon.com Inc. briefly topped $1 trillion valuation again after posting its longest winning streak since a short-lived push above that level in September.The stock hovered right at the $1 trillion value mark as of 10:25 a.m. in New York. Seven consecutive days of gains had boosted the e-commerce giant’s market value to $993 billion as of Wednesday’s close. It took an eighth day of gains on Thursday to push the market capitalization above the 13-figure mark.Amazon has added about $128 billion in market value since the end of May. Nearly half of those gains have come in the past seven days. If the stock’s gains hold on Thursday, it would be the longest winning streak in a year.Microsoft Corp. is currently the largest company with a market value of $1.061 trillion. Apple Inc. was long the world’s largest company, but hasn’t regained all of the market value it lost late last year amid concerns about demand for the iPhone, its top selling product, and the U.S. trade war with China. Apple has a current market valuation of $937 billion, down from an October record of $1.121 trillion.(Adds Thursday trading in second paragraph.)To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.netTo contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven FrommFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

(Bloomberg) -- Amazon.com Inc. briefly topped $1 trillion valuation again after posting its longest winning streak since a short-lived push above that level in September.

The stock hovered right at the $1 trillion value mark as of 10:25 a.m. in New York. Seven consecutive days of gains had boosted the e-commerce giant’s market value to $993 billion as of Wednesday’s close. It took an eighth day of gains on Thursday to push the market capitalization above the 13-figure mark.

Amazon has added about $128 billion in market value since the end of May. Nearly half of those gains have come in the past seven days. If the stock’s gains hold on Thursday, it would be the longest winning streak in a year.

Microsoft Corp. is currently the largest company with a market value of $1.061 trillion. Apple Inc. was long the world’s largest company, but hasn’t regained all of the market value it lost late last year amid concerns about demand for the iPhone, its top selling product, and the U.S. trade war with China. Apple has a current market valuation of $937 billion, down from an October record of $1.121 trillion.

(Adds Thursday trading in second paragraph.)

To contact the reporter on this story: Jeran Wittenstein in San Francisco at jwittenstei1@bloomberg.net

To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Steven Fromm

For more articles like this, please visit us at bloomberg.com

©2019 Bloomberg L.P.