E-commerce giant Amazon,... has overtaken Alphabet, Google's parent company,... to become the second most valuable company in the U.S., and now just trails Apple on the list of the world's most valuable companies.
On Tuesday, Amazon's value rose two-point-seven percent,... lifting its stock market value to 7-hundred-68-billion U.S. dollars,... to climb above Alphabet, which fell point-four-percent to 7-hundred-62-point-5 billion U.S. dollars.
Amazon's stock has surged 85-percent over the past year,... including a 35-percent rise since the start of 2018.
This comes as investors have been betting on the company's growing and very profitable cloud computing business.