Amazon overtakes Alphabet to be world's 2nd most valuable firm
With a market capitalisation of $768 billion, Jeff Bezos-led Amazon on Tuesday overtook Alphabet for the first time to become the world's second most valuable company. This comes after the stock of the e-commerce giant rose 2.7% and that of Google-parent Alphabet fell 0.4%, bringing its value to $762 billion. Notably, Amazon's stock surged 85% over the last 12 months.