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Amazon is now the world's second most valuable company
- Amazon is now the world’s second most valuable company, with Apple on top and Google following behind.
- Amazon’s online shopping services, Alexa-powered devices, and expansion into offline retail will likely help the company grow further.
- The big question at the moment is whether the e-commerce giant will remain immune to the ongoing Facebook data scandal.
The e-commerce giant is now the second most valuable company in the world, topping Google’s parent company Alphabet by a few billion.
Amazon’s stock has been skyrocketing for the past two years, and yesterday, the company celebrated an important milestone: valued at $768 billion, Amazon officially became the world’s second most valuable company, eclipsing Google’s parent company Alphabet for the first time ($716 billion). Apple managed to hold its position as the world’s most valuable company, with a market cap of $889 billion.
Amazon’s rise is largely related to the increasing popularity of its shopping services (Amazon Prime for instance), its line-up of Alexa-powered devices, and its offline efforts like the Go store and the recent Whole Foods acquisition. In other words, Amazon’s growth is largely due to the fact that it is a market leader in several businesses.
The big question now is whether Facebook’s recent data scandal will have an impact on Amazon’s shares in the coming days. With growing concerns about social media collecting user data and making private information available to third parties, some people are selling off their shares in companies like Facebook, Twitter, and even Alphabet, which relies on personal data to target its advertising. Will Amazon remain untouched by this ongoing scandal? Some seem to think so, given that Amazon operates in a significantly different way than other tech and social media companies.
What are your thoughts on Amazon’s continuing growth? Let us know by leaving a comment below!