Amazon briefly became the most valuable company on Wall Street on Monday, during the intraday trade, a day after Microsoft over-throne the long-time leader, Apple Inc. During the intra-day trading, at one point, the Amazon rose by 4.7%, reaching its market capitalization at $865.0 billion and at the same time, the Apple was up by 2.1%, attaining a market capitalization of $864.8 billion.
On Friday Wall Street closure, Apple dethroned the long-time leader Apple Inc. for the first time in eight years, which was up by 0.9%, reaching a stock market value of $859 billion, which is currently third among the world’s richest companies on Wall street, in term of market capitalization.
Interestingly, Amazon’s gain lasted only a few seconds and, at the market closure, Apple was back on the top with 3.49% gain and the total market capitalization is at $877 billion. Amazon is reigning at the second, gaining 4.86% throughout the day, leaving its market capitalization at $866.6 billion.
At this standpoint, on Wall Street, Microsoft’s share is up by 1.08%, reaching a stock market value of $.860.4 billion. The tight range race has been ongoing since, the United States and China had agreed on a trade truce for 90 days and global stocks are surging in the relief of tariff war.
However, on Tuesday, 4th December, Asian stocks are tumbling, signalling a stall on global-scale relief rally.