First Microsoft, Now Alphabet. Amazon Passes Another Giant to Become The Second Most Valuable U.S. Company
Amazon continues to climb up the charts.
Rounding out a number of record breaking achievements this year, Amazon (AMZN) passed Google parent company Alphabet (GOOGL) for the first time ever, becoming the second most valuable publicly traded company on Tuesday.
Amazon closed up 2.7% with a market value of $768 billion. Meanwhile, Alphabet dropped 0.4%, decreasing its market value to $762.5 billion. This year Amazon has already risen 36% compared to Alphabet’s 4%. The company first passed Microsoft (MSFT) for the number three spot in mid-February.
Apple continued to hold the top spot, with a value of $889 billion. Microsoft and Berkshire Hathaway (BRK-B) came in at fourth and fifth most valuable companies, with $717 billion and $505 billion respectively.
Following revelations that data of millions of Facebook users had been misused by Cambridge Analytica, the social media giant has lost billions in stock value. Facebook (FB) shares have dropped more than 9%, bringing the company down to a $488 billion valuation and dropping it to seventh place.