Amazon emerges as the world’s third most valuable company

NewsBharati 15-Feb-2018

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Seattle, February 15: Another landmark success for e-commerce giant Amazon as it has dethroned Microsoft to become the third most valuable company in the world. Amazon stock surged 2.6 percent closing at $1,451.05 a share on Wednesday leading its way for crossing Microsoft first time.

Amazon’s market cap stood at of $702.5 billion — making it the No. 3 most valuable company in the world. In last one year, it’s market has gained 42 percent. Apple, worth $849.2 billion, and Google parent Alphabet, worth $745.1 billion are holding the first and second position.

Even Amazon CEO Jeff Bezos is now the world's richest man ever. Amazon has nearly quadrupled in value over the last three years which has made Bezos the richest man. Both Bloomberg and Forbes have put Bezos on top of their billionaire lists.

Investors predict the company would continue its track record of grabbing an ever-larger share of commerce. At a rate of 19% each year, the revenue of Amazon has increased. Earlier on February 7, Amazon briefly overtook Microsoft in intraday trading, but then its stock pulled back 3 percent before closing and it remained in fourth place.

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