The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
SAN FRANCISCO, United States — Amazon briefly became the most valuable company on Wall Street in intraday trade on Monday, days after Microsoft Corp dethroned long-time leader Apple.
Amazon rose as much as 4.7 percent, putting its market capitalisation at $865.0 billion. Apple was up 2.1 percent, giving it a market capitalisation of $864.8 billion.
Microsoft, which on Friday closed above Apple's market capitalisation for the first time in eight years, was up 0.9 percent, leaving its stock market value at $859.0 billion, third in the group.
The tight race between the trio of high-powered technology stocks coincided with a broad stock market rally after the United States and China agreed on a temporary trade truce.
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Apple in August became the first US publicly-listed company to reach a $1 trillion market capitalisation, but the iPhone maker has fallen sharply in recent months as investors worried that demand for iPhones was losing steam.
Amazon's stock has recovered most of the ground it lost after the online retailer in October forecast disappointing sales for the holiday quarter, but it is still down about 13 percent from its September 4 record-high close.
Apple's market capitalisation overtook Microsoft's in 2010 as Microsoft struggled with slow demand for personal computers, due in part to the explosion of smartphones like the iPhone.
By Noel Randewich, editor: Rosalba O'Brien.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.