Ama­zon is now top firm

The East African - - OUTLOOK -

The e-com­merce Ama­zon be­came the largest com­pany by mar­ket value at stock­mar­ket close on Mon­day, sur­pass­ing Mi­crosoft, pre­vi­ously the big­gest pub­lic cor­po­ra­tion.

Ama­zon's mar­ket value stood at $796.78 bil­lion, after its stock price rose 3.44 per cent to close at $1,629.51 apiece for the day. Mi­crosoft reg­is­tered mar­ket cap­i­tal­i­sa­tion of $783.57 bil­lion after its shares rose 0.13 per cent.

Ap­ple, also a con­tender for the most valu­able com­pany, went down to $701.99 bil­lion in mar­ket value. Its stock price hit a 52-week low last week after the com­pany is­sued lower guid­ance for the 2019 first quar­ter.

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