Amazon jumps $135 billion in biggest ever market value increase

0 is giving back to the market what Meta Platforms just took away – or at least a large part of it.

The e-commerce giant rose 9.6%, adding more than $135 billion in market value, after climbing as much as 12% at Friday’s open. It would be one of the biggest one-day gains in US stock market history, and comes just a day after Facebook’s parent platforms, Meta Platforms, entered the other end of the record books with a annihilation of 251 billion dollars.

Amazon’s move could come close to Apple’s US record from last week – the iPhone maker added about $179 billion in value the day after its earnings report. The world record for daily market capitalization gain was set by PetroChina, which added $597 billion in a single day in November 2007.

Amazon’s stock price surge came after sales of its cloud computing business beat Wall Street estimates and the company raised the price of Amazon Prime subscriptions, easing some concerns about the impact of the increases. cost on profitability. These factors eclipsed current quarter revenue and operating profit forecasts which fell short of expectations.

Billionaire Jeff Bezos added nearly $20 billion to his personal valuation after Amazon’s windfall earnings.

Amazon had its worst day since March 2020 on Thursday, with Meta’s earnings flop raising fears about the results of other big tech companies. The 7.8% decline in the regular session wiped out $119 billion in market value for the Seattle-based company.

SoftBank Group challenges as valuations plummet (Reuters)

Storm clouds hang over SoftBank Group as it prepares to report its third-quarter results on Tuesday, with valuations of major portfolio companies slipping and heavyweights exiting the Japanese tech conglomerate. Key SoftBank assets that have gone public over the past year and are now trading below their listing price include ride-hailing company Didi Global, e-commerce company Coupang and car-sharing platform. Used Auto1 Group. In the quarter ending Dec. 31, artificial intelligence company SenseTime was a bright spot, but others, like Paytm’s parent company, One 97 Communications, disappointed. The new year offered little respite to CEO Masayoshi Son: January was a deadly month as investors turned away from growth stocks.


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