Only three other companies — Apple, Alphabet and Microsoft — have hit that market cap milestone, and Amazon made the leap from $600 billion to $700 billion faster than any other company.
Amazon’s market cap jumped from $600 billion to $700 billion in 16 trading sessions. It took Apple 119 days, Alphabet 372 days and Microsoft 4,548 days to achieve the same growth, according to WSJ.
The market cap increase shows Amazon and other major technology companies have significant influence in the broader stock market. Stocks across the healthcare sector took a $69 billion hit Tuesday after Amazon, JPMorgan Chase and Berkshire Hathaway unveiled plans to form a new healthcare company, according to Reuters.
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