Amazon surpasses Alphabet to become second most valuable company after Apple

Apple weighs in at a hefty $889 billion, whereas Amazon takes the second place with $768 billion value.

  • Updated: March 21, 2018 5:29 PM IST

While Apple remains to hold the position of the world’s most valued company, Amazon has shot up to surpass Google parent company Alphabet, at the second place.

Apple’s market capitalization marks $889 billion, while Amazon weighs in at $768 billion, followed by Alphabet with $762 billion valuation, S&P Global Market Intelligence reveals.

Amazon has been swiftly travelling vertically up lately. On February 14, the company was recorded to have passed Microsoft for third place in market capitalization. This of course shot up Amazon stock price, which also resulted in a further boost to the personal wealth of the company CEO Jeff Bezos, who currently left Microsoft‘s Bill Gates behind to become world’s richest person. Bezos is currently estimated to be worth $127 billion.

Bezos took the top spot on Forbes’ world’s billionaires list for the first time ever with a net worth of $112 billion at the end of 2017, when he leapt past Bill Gates and Berkshire Hathaway CEO Warren Buffett.

This shuffle in company valuations interestingly comes at a time when the world is waiting to see which global corporation passes the $1 trillion mark first. The majority of analysts have been betting on Apple, but the latest race scores may call for a think over.

Meanwhile, there are analysts who still see Microsoft in the race to the trillion mark. According to a Wall Street analyst, Microsoft could be worth $1 trillion by 2020, if not sooner.

Unfortunately or otherwise, Facebook has been a big loser this time, especially owing to the alleged controversy about user data being leaked to Cambridge Analystica. Things went even worse at Facebook after WhatsApp co-founder Brian Acton recently tweeted out suggested users to delete facebook to say safe. His words turned into a campaign on Twitter, being led by hashtags like #DeleteYourFacebook.

  • Published Date: March 21, 2018 5:28 PM IST
  • Updated Date: March 21, 2018 5:29 PM IST