The stock market is a weighing machine of companies’ potential rather than their current circumstances. That is doubly true for Amazon.
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US President Donald Trump, stepping up his criticism of technology firms he says are favouring liberal points of view, said they may be in a “very antitrust situation” but repeatedly said he can’t comment publicly on whether they should be broken up.
Amazon.com headed for its biggest gain in four months, pulling within US$26-billion of becoming America’s second trillion-dollar company, after Morgan Stanley said sales growth remains strong.
Google wants to get back into China, and is laying the groundwork for a key part of the initiative: bringing its cloud business to the world’s second largest economy.
Going just by the stock prices of its peers, the interesting thing about Apple isn’t that it’s worth $1-trillion. It’s that it’s not worth more. Not that investors are complaining.
Apple may not have surpassed US$1-trillion in market value in the wake of this week’s solid results, but it remains the world’s biggest company – for now.
For a technology sector on the verge of begetting two trillion-dollar companies in Amazon.com and Apple, the requirements are getting daunting.
Amazon.com reported better-than-expected earnings in the second quarter and forecast more of the same in the current period, igniting investor optimism.
Spotify Technology gained more subscribers than expected, but it wasn’t enough for investors who are worried about competition from Apple and Amazon.com.
Microsoft’s cloud-fuelled turnaround persisted in the fiscal fourth quarter, when sales and profit got a boost from customers signing up for more Internet-based storage, processing and Office productivity software.