Wednesday, August 10, 2022
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Amazon soars on the stock market and records record gain in capitalization

After Meta suffered its biggest loss in market value this Thursday (3), Amazon came in the opposite direction. The retail giant posted a new record for single-day gains on the stock market.

In trading this Friday (4), the company's shares jumped 15% after the disclosure of fiscal results for the fourth quarter of last year. With that, Amazon had already increased its market value by about $200 billion this morning alone.

If it closes the day's trading near that level, the company outperforms none other than Apple, which, according to Refinitiv, posted a daily capitalization gain of $181 billion on January 28 after releasing its quarterly report. .

Image shows the facade of an Amazon building, with the company logo on top.
Amazon shares soared on the stock market, which made the company record a new daily capitalization gain record. Image: Tada Images/Shutterstock

For now, Amazon is valued at about $1.6 trillion. Amid the good news, it is worth remembering that the company has decided to increase the price of Prime subscription plans. Which, at least for now, only applies to the US.

See too

  • Apple and Broadcom Win in New Judgment That Charges $1.1 Billion for Patent Infringement
  • Siemens announces investment of US$6.21 billion for 2022
  • Toshiba to invest $1 billion to double chip production
  • Meta, owner of Facebook, receives a new millionaire fine

Regarding expectations for the rest of the year, market analyst Brian White, from Monness Crespi Hardt, indicates that Amazon is in a “unique position” in the market to recover from the impacts of the economic crisis due to the “digital transformation” each time. increasingly accelerated. Something that gained strength amid the pandemic.

Finally, despite the good results, Apple — the first company to reach $3 trillion in market value — Microsoft and Alphabet remain the most valuable in the tech industry, with capitalizations of $2.8 trillion, 2.3 trillion and $1.9 trillion, respectively, according to Refinitiv data.

Via: Reuters

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The post Amazon soars on the stock market and records record gain in capitalization appeared first on Olhar Digital.

Tanya
Tanya
author. tanya is a voracious reader who adores the great outdoors. She believes that her life experiences have made her more empathetic toward people, which she reflects on in her work!
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