Amazon Back on Cusp of $1 Trillion Value After 7-Day Streak
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Amazon.com Inc. is flirting with a $1 trillion valuation again after posting its longest winning streak since briefly surpassing that level in September.
Seven consecutive days of gains have boosted the e-commerce giant’s market value to $993 billion as of the July 10 close, according to data compiled by Bloomberg. A gain of less than 1% for the stock would push the market capitalization above the 13-figure mark. The shares closed that gap on July 11 in the morning, climbing 0.8% in early trading — a move that would push the market value to nearly $998 billion.
Aamzon has partnered with Kohl's, which now accepts Amazon returns. (Kyle Grillot/Bloomberg News)
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, which comprises Amazon’s longest string of advances since Sept. 4.
Microsoft Corp. is currently the only company with a market value above $1 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 $935 billion, down from an October record of $1.12 trillion.
