Amazon quickly loses $1 trillion value

After reaching a $1 trillion market value Jan. 31, Amazon's shares closed with a total value of $999.96 billion, according to The Wall Street Journal.

Amazon's shares dipped due to negative sentiment that caused a late-day market selloff. The last time Amazon reached the $1 trillion valuation was in September 2018. The company, for a moment, joined Alphabet, Apple and Microsoft in the $1 trillion club.

The company's value topped the $1 trillion mark after an impressive fourth quarter financial report, which was led by huge growth in revenues from the Amazon Web Services cloud platform. AWS saw a 34 percent year-over-year increase for the quarter, and a 37 percent increase for the year.

View the full fourth-quarter earnings report here.

More articles on health IT:
10 recent vendor contracts, go-lives
How Connecticut is developing a multimillion-dollar statewide HIE
CHIME, HIMSS name Marc Probst 'CIO of the Year'

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers