Boosted by aggressive expansion into cloud computing, AI and groceries, Amazon has been steadily building a rapport with investors drawn to its gung-ho growth. Google, on the other hand, has also been enveloped around wider negative sentiment surrounding the fallout from a Facebook data breach, which has raised the prospect of tighter regulation.
This translated into a market capitalization of $768bn for Amazon following a rise of 2.69% while Alphabet declined 0.39% to reach $762bn. Over the past year Amazon’s stock has risen by 81% driven by a stratospheric growth in revenues as consumers migrate to cloud computing services, an Amazon specialty.
Amazon overtook Microsoft as recently as February and is now being spoken of as a future challenger to Apple, which remains safely ensconced at the top of the tree for now with a market capitalization of $889bn.
The April edition of The Drum magazine is devoted in its entirety to Amazon as we explore its growing allure among advertisers and the threat this poses to rivals.