Amazon’s market cap tops $800 billion as stock surges toward 6th-straight record
Amazon.com Inc.’s stock rallied 0.6% toward a sixth-straight record in morning trade Monday, enough to lift the e-commerce giant’s market capitalization above $800 billion intraday. That makes Amazon just the second U.S. company to reach that mark, behind Apple Inc. , which currently has a market cap of $943.7 billion. Based on 485.23 million shares outstanding as of April 18, Amazon’s market cap is now at $801.3 billion. The stock is heading toward an eighth-straight gain, and sixth-straight record close. Helping boost Amazon shares Monday was a price target increase to $2,000 at SunTrust Robinson Humphrey. Amazon’s market cap has increased by $34.0 billion during the win streak, and by $64.8 billion since Amazon reported first-quarter results after the April 26 close. Over the past three months, Amazon’s stock has run up 10.1%, while Apple shares have climbed 9.0% and the Dow Jones Industrial Average has edged up 1.2%.