Amazon’s stock has experienced a significant surge in value, potentially setting a new record on Wall Street. This comes just after Meta Platforms, the parent company of Facebook, suffered the largest stock market value loss ever recorded for a U.S. company. Following the release of its quarterly report, Amazon’s stock saw a remarkable increase of nearly 15%, resulting in a market capitalization growth of over $200 billion by mid-day. If this level continues, Amazon’s stock would surpass Apple’s previous one-day gain record of $181 billion on January 28.

Currently valued at approximately $1.6 trillion, Amazon’s shares received a boost after the company reported profits that exceeded expectations and announced a 17% price increase for its annual U.S. Prime subscriptions. This surge in value follows Meta Platforms’ stock market value plummeting by over $200 billion due to a disappointing forecast issued by the social media giant.

Analysts are optimistic about Amazon’s prospects for 2022. Brian White, an analyst at Monness Crespi Hardt, commented that despite the challenges faced during the post-lockdown period in 2021, Amazon has the potential to thrive as the year progresses. White believes that Amazon is uniquely positioned to emerge as one of the major beneficiaries of the accelerated digital transformation.

While Amazon’s surge in value is remarkable, it is important to note that Apple, Microsoft, and Google owner Alphabet currently hold the top spots as Wall Street’s most valuable companies. Apple has a market capitalization of $2.8 trillion, followed by Microsoft at $2.3 trillion, and Google owner Alphabet at $1.9 trillion. Nevertheless, Amazon’s remarkable growth demonstrates the company’s resilience and potential for continued success in the digital marketplace.

Useful links:
1. Refinitiv: A financial data provider.
2. Amazon: Official website of Amazon.