From the close of the market on Thursday to session highs on Friday, all three stocks hit an all-time high. That added more than $30.6 billion to Alphabet's Class A market capitalization, $14.2 billion to Amazon's market capitalization, and $6.7 billion to Microsoft's market cap, reaching about $52 billion.
The stocks later pared gains, falling below their peaks. By the end of the day on Friday, the trio
The gains left both Amazon and Alphabet closing in on share prices of $1,000. Amazon's market capitalization reached about $442.1 billion, according to FactSet, pushing founder Jeff Bezos' wealth closer to the richest in the world. Alphabet and Microsoft had market caps of about $636 billion and $529 billion, respectively, according to FactSet.
The figures put big tech among the world's wealthiest companies — at least in the eyes of Wall Street, which often considers expectations of a company's future cash as much as its current sales, as Tesla's Elon Musk has pointed out.
Tweet: Exactly. Tesla is absurdly overvalued if based on the past, but that's irrelevant. A stock price represents risk-adjusted future cash flows.
Either way, Amazon,
Watch: Alphabet & Amazon race to $1,000/share