- Amazon overtook Microsoft as the world’s biggest publicly-traded company
- Its revenues jumped from $74.5-billion in 2013 to $177.9-billion last year
- Microsoft placed second, and Google got the third spot
Online retail giant Amazon took the top spot on Monday’s trading session as the world’s biggest publicly-traded company.
NDTV posted that the online sales of the company whopped a 3.4-percent gain; having a market capitalization of $796.8-billion at present.
Its revenues jumped from $74.5-billion in 2013 to $177.9-billion last year and is projected to reach $232.3-billion.
Amazon’s market capitalization stands well below its own peak in September when it crossed the $1-trillion before Wall Street’s late-2018 selloff.
The company’s retreat has been less steep as compared to other tech giants during the pullback.
The Sun shared that the retail giant’s shares rose by 3 percent — or a single stock is now valued at $1,629.51.
The new position of Amazon marks that first time it got the top spot. Microsoft follows, and then Google.
Concerns including the Trump administration’s trade war with China and rising interest rates triggered the re-positioning.
Apple, to note, has long been the world’s biggest company in terms of market capitalization.
The Steve Jobs-founded company, however, is now on the fourth spot after Google.
Amazon started in a garage in a suburb of Seattle, Washington – by Jeff Bezos- in 1994 as an online bookstore.
The company was first dubbed “Cadabra” who sold its first book in mid 1995. It went public in 1997 and began selling music and videos in 1998.
The following year, the organization also sold video games, consumer electronics, home-improvement items, software, games and toys in addition to other items.
Today, it is the largest e-commerce marketplace and cloud computing platform in the world as measured by revenue and market capitalization.