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Amazon Market Value Close To Overtaking Microsoft

Amazon’s market share is about to be worth more than Microsoft’s due the online behemoth’s positive quarterly results and coming out relatively unscathed from the Dow Jones flash crash that happened a few days ago.

Both companies were hurt from the Dow Jones’ flash crash but comparing the two, Amazon came out US$10bn richer than Microsoft only losing US$19.3bn compared to the Microsoft’s US$29.1bn.

Reuters reports Amazon’s stock was down 1.14 per cent, bringing its market capitalisation to $690.4 billion, while software maker Microsoft’s 1.83 per cent fall depressed its market capitalisation to $690.3 billion.

For its Q4 2017 results, Amazon made a record US$60bn revenue with a net income at US$1.9bn
Following the strong earnings report, Amazon’s stock jumped 6% in after-hours trading.

At the moment, Amazon’s shares on the NYSE are at US$1416.78 down 1.81 per cent and Microsoft’s at US$89.61, down 1.88 per cent.

Watch this space, Amazon is making moves.

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