On Tuesday, the value of Amazon, the US e-commerce giant, surpassed Google’s parent company, Alphabet Inc, becoming the second-highest global market value after Apple.
Amazon’s share price rose by 2.7% on Tuesday with a total market value of US$768 billion. The share price of Google’s parent company, Alphabet, fell by 0.4%, with a total market value of US$762.5 billion.
In the past 12 months, Amazon's stock price has risen by 85% and has risen by 35% this year. Investors are very optimistic about the future growth of Amazon.
Believing that its lucrative cloud computing business can deliver a steady flow of cash to its other businesses, including original content, physical stores, and data centers.