Shares of Amazon.com Inc. (AMZN) surged 6.2% in premarket trading Friday, in the wake of the e-commerce and cloud giant's blow out second-quarter results ( ), which puts the company on track to open as the second-biggest U.S. company by market capitalization. The stock should open above the July 10 record close of $3,200.00, but slightly below the July 13 all-time intraday high of $3,344.29. The implied price gain would lift Amazon's market cap to about $1.62 trillion, leaping past Microsoft Corp. (MSFT), as the software giant's stock is up 0.4% premarket to imply a market cap of $1.55 trillion. Meanwhile, Apple Inc. (AAPL) is set to extend its lead as the most valuable U.S. company, as the 7.1% premarket gain sets Apple's market cap to reach $1.76 trillion at the open. Meanwhile, futures for the S7P 500 are up 0.3% ahead of the open.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 31, 2020 08:20 ET (12:20 GMT)
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