29 Oct 2018_campuscad
On Friday 26, 2018 Amazon market value dropped by whopping $68 billion helps to put Microsoft in second spot due missed revenue expectation of 3rd quarter on Wall Street.
Amazon market capital stands approximately $803 billion on Friday. E-commerce giant released its earnings report on Thursday.
Amazon reported revenue of $56.6 billion against analyst expectations of $57.1 billion leads to many investors to sell the AMZN stock.
Microsoft posted $26.82 billion revenue in 3rd quarter of 2018 and forecast a better growth and sales in next quarter.
Microsoft market capital on Friday was $823 billion ahead of Amazon.
Apple is the only publicly traded company in the US market with $1 trillion market capital.
Google parent Alphabet inc. shares also dropped as it missed the revenue expectations by Wall Street analysts. Google posted $33.7 billion revenue for 3rd quarter.
Amazon stocks will up as it has umbrella of tech services including cloud computing, Advertisement, Retail giant Whole Foods, with largest e-commerce platform ahead of festival season.
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