By
Bena Ilyas
May 13th, 2024
The list of world’s most valuable companies has been rearranged as the retail giant Amazon firmly overcame Microsoft in a race for industry dominance.
The new year has only begun, but it is already full of surprises. For American retail giant Amazon, the beginning of 2019 appeared to be very flavorful. In the first week of the ongoing year, the company managed to win over its long-lasted competitors, Microsoft and Apple, reaching the highest capitalization level at the market.
On Monday, January 7, it became known that the price of AMZN shares has bounced up at 3.44% being traded for $1,629.51 per unit. Such a drastic increase made the Amazon company worth roughly $797 billion, while Microsoft’s market price was up only for a fraction of 1% to close at $783 billion.
Speaking of Apple, which had been part of a three-way race for the winning seat, it is now down to about $702 billion in market value after plunging last week on the news of its weaker-than-expected iPhone sales. Google parent company Alphabet has surpassed Apple with a market value of about $748 billion proudly closing the list of top 3 companies in terms of market capitalization.
It is worth mentioning that the passing 2018 has been rough for most FAANG companies including notorious Facebook and devaluating Apple. On the wake of the Cambridge Analytica scandal that largely stained Facebook’s reputation as data leaker, the company lost not only its good name but an additional 30% of the market value. Currently, it holds a market cap of $396.50 billion.
On the other hand, Apple lost both 7% of the market cap and its position as the first publicly traded U.S. company to reach a market cap of $1 trillion in September 2018. However, not everyone has been underperforming last year — some managed to strengthen their positions and is actively approaching new goals. For example, an American media-services provider, Netflix has gained a 40% surplus compared to previous reports.
Crypto-future for Amazon’s $1 trillion in Capitalization
The next evident benchmark for Amazon is a $1 trillion market cap, and the faster the company gets there, the more flattering will be the triumph. Some business analysts whose name closely pertain to the crypto-sphere say crypto-payments are a turnkey solution for Amazon’s skyrocketing success.
Thus, Cory Johnson, Ripple’s chief market strategist, had some really interesting things to say about Amazon and other retail giants. Johnson believes that Amazon could benefit a lot from using Ripple’s solutions for effective cross-border payments.
Let’s us remind you that Ripple has founded its own cryptocurrency, XRP that is specially devised to replace international SWIFT system for streamline international payments.
According to Johnson, Amazon is perhaps the most capital-efficient company in the history of the world, but it has a billion dollars laying around in accounts because the system of moving money is so slow. The technology of XRP, on the other hand, allows for transactions to happen very fast.
As a result, Ripple’s partnership with Amazon could be beneficial not only for the XRP wider promotion, it could also contribute to Amazon’s value.
To learn more about XRP coin, Ripple company and their innovative solutions, please check out our awesome guide.