Amazon gained the market cap SpaceX lost in six weeks
In less than six weeks, Amazon has gained almost as much market capitalization as SpaceX has lost. Since June 26, both companies have swapped precisely $560 billion in market cap.
Believe it or not, as recently as June 16, both companies had the same valuation, each being a $2.65 trillion company.
Since then, however, their valuations have trended in opposite directions.
Shares of Amazon climbed above $284 today, carrying the online retailer’s market value past $3 trillion for the first time. Only four publicly traded companies had ever reached that mark before.
Elon Musk’s rocket, internet, and AI conglomerate SpaceX had a great start after its IPO, running above $2.9 trillion within three days and briefly eclipsing the value of Amazon for one glorious week.
Stock in SpaceX then crashed, crashed, and crashed some more. Over the past month, the stock has lost 32% of its value.
Today, Amazon’s $3.06 trillion market cap is more than twice as valuable as SpaceX’s $1.44 trillion.
A good earnings report from Amazon
Last week, Amazon reported second quarter net sales of $200 billion and operating income up an impressive 43%, largely due to tariff refund checks and an increase in its Anthropic investment.
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