The U.S.-based publicly traded companies show superior progress in moving to a record $2 trillion market cap. Of these, more expectations are on Amazon.
While several companies are not proud of their valuation thanks to the impact of the coronavirus, a handful of others have benefitted immensely. While all businesses do not have similar business models, some in the eCommerce sector were able to provide crucial life support needed to cushion the ravaging effects of the COVID-19 lockdown. This in turn was translated to bounties as evidenced in a huge limp in stock price during the lockdown. Amazon.com Inc (NASDAQ: AMZN) remains at the forefront of the gainers during the lockdown, the Guardian reported that the retail services giant cashed in about $11,000 per second in March raising the company’s valuation.
Although the current AMZN stock value is $2,518.59 which means that it is down 1.04% while losing $26.43, new projections are putting the company in the spotlight. Would Amazon be the first company to hit the $2 trillion valuation?
Impressive Growth Trajectory to First Trillion by Amazon
Amazon is arguably one of the most valuable brands in the world and is rated as a big four tech company in the world including Apple Inc (NASDAQ: AAPL), Alphabet Inc (NASDAQ: GOOGL) (NASDAQ: GOOG), and Microsoft Corporation (NASDAQ: MSFT). Since its inception in 1994 by Jeff Bezos, the company has experienced a massive growth both in its supply and Networth.
As early as March 12 while the coronavirus was ravaging, Amazon was valued at $834 billion. The company witnessed a meteoric rise in its capitalization with the addition of $450 billion dollars culminating in an impressive 60% rise. The current market cap is $1.26 billion. This huge leap owing to the crucial services the company made available during the lockdown has sparked analysts to believe that Amazon may be the first publicly owned company to attain a $2 trillion market capitalization.
Run for the Record-Breaking Market Cap
AMZN has shown impressive stats in recent times to register itself as a formidable company to hit the record mark first. Apple Inc stunned the world when it hit a $1 trillion market cap back in 2018 and has been projected to attain its $2 trillion market cap in about 4 years. Profiling other members of the big 4, Microsoft Corporation despite its current strides and product demand has been billed to attain the milestone in 2 years. Coinspeaker completed this top company profiling by projecting Google LLC among publicly listed companies in the U.S. with the potential to hit this mark.
While these companies are all eligible to stun the world with this record, Tesla Inc (NASDAQ: TSLA) cannot be undermined as the electric car company’s recent performance has been impressive. Should Amazon experience the unprecedented surge in value as it experienced in earlier, it may be the new record-breaker following Apple.
The upward trajectory of AMZN as well as those with a market capitalization in the $1 trillion range has been consistent. While they all have the right product offering and futuristic product innovation to sway the market in their favor, more optimism is vested on AMZN. As per general market uncertainty, any company could hit the record first and whosoever did, would have positive credence to the strength of the U.S. market and economy – a big win for the world’s largest economy.
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.