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Amazon (AMZN) stock price is up today as the brand has been rated as the most valued in the world with a $415.9 billion valuation.
Amazon.com Inc (NASDAQ: AMZN) stock price is 2% up today. Yesterday, Amazon (AMZN) stock prices closed at $2,691.32, today it is trading at $2,734.10. This happened as Amazon’s brand value crossed the $400 billion mark. Amazon increased its brand value by about 30% since last year. Amazon has been valued at $415.9 billion.
The COVID-19 pandemic seems to have helped Amazon sales to surge forward. Most retail sales now occur online as the movement restrictions for most of the population.
The ranking was released by the Kantar Consultancy. It was released on Tuesday.
Amazon (AMZN) Stock Up as the Company Has the World’s Most Valuable Brand
The 100 companies that are also the most valuable by capitalization were also screened using consumer research from more than 3.8 million people globally. BrandZ top 100 uses the above factors to determine the rankings.
Apple (AAPL) came second with a brand value of $352.2 billion. This has could also prove speculations that Apple (AAPL) could have a $2 trillion market capitalization. Microsoft Corporation (NASDAQ: MSFT) was next with a brand value of $326.5 billion.
This is the first year that Microsoft has overtaken Google LLC (NASDAQ: GOOG) (NASDAQ: GOOGL). The rise by Microsoft most likely has to do with the usage of its Microsoft teams software.
As the COVID-19 pandemic has continued, companies that must survive the economic fallout must work with cloud-based collaboration software. Speaking of the economic fallout, markets plunged in March due to the emergence of COVID-19. As stocks fell, shares of online businesses took off.
This is because all activities have gone electronic due to movement restrictions. As more activities come on stream, the stock prices of internet companies are set to take off as they have become a major mainstay at this time.
Companies like Amazon are quickly taking over the markets that were traditionally left to physical businesses. Such moves have been criticized.
Amazon seems to be adapting well. The Kantar report stated:
“Although consumer reliance on home delivery during the pandemic stretched Amazon’s logistics capabilities, it also affirmed Amazon’s strength.”
This, of course, indicates that the Amazon (AMZN) model could be the paradigm for the next decade.
Amazon Value Becomes Digitally Driven
Alibaba Group Holding (NASDAQ: BABA) is no 6 on the brands list. Its valuation has risen by 16% from last year. JD on the other hand has a brand valuation of $25.5 billion. This is a 24% annual increase. Kantar’s report stated that:
“Brands that enabled people to navigate life with digital devices, and achieve convenience and comfort, generally increased in value or at least outperformed their category.”
This is a proof-of-concept that companies like Amazon are set to come out on top of the situation as the coronavirus situation continues to rip the global economy apart.
This may also be the beginning of the rule and reign of the internet. Something that may last for a while as the most capitalized companies are mostly technology companies.
The era of big energy, defense, and construction seems to be waning as the current numbers give rise to a new meaning of “big-tech”.
Amazon seems to be a clear leader in this regard.