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Amazon Briefly Tops Apple in Public Trading Value

Yesterday, for a moment, Amazon surpassed Apple as the number one, most valuable publicly traded company in the world.

Amazon’s market capitalization rose by nearly 5% which increased it to $865 billion. This narrowly beat out Apple’s market capitalization of $864.8 billion. This triumph did not last more than a few hours, and since Apple reclaimed the top spot, Amazon has dropped significantly. But it’s more than possible that Amazon could reach the top again, and stay there.

Each of the five FAANG companies has been having a bit of a rough year. However, Apple’s drop into the bear market has been a lot worse than Amazon’s. With Amazon, many speculate that the significant hit they’ve taken over the year is merely through association with the other 4 companies of FAANG. Apple, on the other hand, is taking hits from numerous sides.

Customers are no longer as interested in Apple products as they once were, production orders have been heavily slashed, and investors are getting anxious. Apple no longer sharing unit sales with the investors isn’t helping. On top of that, all of Apple’s recent iPhones, the XS, XS Max, and XR are all duds. In short, Apple’s been on a sharp decline this year, and their innovation appears to be stagnating. Amazon, on the other hand, is making moves in various different avenues, and if they play their cards right, could go into 2019 as number one once again.

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