Amazon surpassed Microsoft to become the third largest market capitalization listed company in the United States

Amazon shares rose 2.6% on Wednesday, to close at 1,451.05 US dollars; market value reached 702.46 billion US dollars, an increase of 176.9 billion US dollars over the previous day.

According to foreign reports, the market value of Amazon officially surpassed that of Microsoft on Wednesday and became the third largest market capitalization listed company in the United States for the first time.

Amazon shares rose 2.6% on Wednesday, to close at 1,451.05 US dollars; market value reached 702.46 billion US dollars, an increase of 176.9 billion the previous day, Microsoft shares rose 1.6% on Wednesday, the market value of 699.22 billion US dollars, compared with the previous day An increase of 10.78 billion U.S. dollars in the market value of the Amazon in the Feb. 7 intraday trading briefly exceeded Microsoft, but in closing again under Microsoft's market value.

Microsoft shares closed at its highest ever on January 31, when the company's market capitalization was $ 731.56 billion, up $ 29.17 billion from Amazon's market cap of $ 702.39 billion, but Amazon's share price retreat was less than Microsoft, which rebounded stronger, set the stage for the company's market value to finally surpass Microsoft.

Amazon earlier this month released the supermarket expected fourth-quarter earnings report showed that in the fourth quarter ended December 31, the company's net profit of 1.9 billion, diluted earnings per share of 3.75 US dollars, the performance is better than In the fourth quarter of FY 2016, Amazon reported net profit of $ 749 million and earnings per share of $ 1.54. Amazon reported fourth-quarter operating profit of $ 2.127 billion, an increase of 69% from $ 1.255 billion in the same period of last year. Net With a sales volume of 60.453 billion U.S. dollars, an increase of 38% from 43.741 billion U.S. dollars in the same period of last year. Excluding the beneficial impact of a foreign exchange rate change of 1.1 billion U.S. dollars, Amazon's net sales in the fourth quarter increased by 36% from the same period of last year, of which Amazon Fourth-quarter net product sales were $ 41.325 billion, up from $ 30.629 billion a year earlier; net service sales were $ 19.128 billion, up from $ 13.112 billion a year earlier.

Amazon was quite busy after the earnings announcement, with Amazon and Buffett's Berkshire Hathaway and JPMorgan jointly announcing a joint move to transform the healthcare industry into a service for one million U.S. workers. , The company also announced that Prime members will also be able to enjoy courier services Prime Now, which was also announced earlier this week that Amazon will expand its supply of medical supplies, an expanded service dedicated to hospitals and clinics The Wall Street Journal quoted hospital industry executives as saying that the e-commerce giant is planning to expand its 'Amazon Business' market to serve the health care industry.

Amazon shares have fallen 7.7% from January 31 to February 9 but then rebounded by 8.3%. Microsoft shares have fallen 10.5% from January 31 to February 8 but then rebounded only 6.8%. The Dow Jones Industrial Average plunged 4.8% this month, while the Nasdaq 100 index lost 4.0%.

Although it has become the third largest market capitalization company in the United States, there is still a long way to go between Amazon and Alphabet's second largest parent, Alphabet, which currently has a market capitalization of $ 745.47 billion, according to Wednesday's closing price. The highest market value of listed companies, the market value reached 849.24 billion US dollars.

Amazon's founder and chief executive, Jeff Bezos, currently has a net worth of about $ 118 billion, more than $ 90.3 billion from Microsoft co-founder Bill Gates. With 78.9 million shares in Amazon, representing 16.3% of the company's total outstanding shares, Amazon shares soared about 24.1% this year, signifying a $ 22.2 billion increase in Bezos's net worth.

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