The e-commerce giant’s market value has surged—a sign that investors are ignoring potential problems
Amazon.com has already been deemed Big Tech’s biggest winner from the coronavirus pandemic, but victory might prove hollow—if not short-lived.
Against a broad selloff that has clipped 12% from the S&P 500 this year, Amazon’s share price has jumped 30%. As one of only three companies on the main index with a market cap exceeding $1 trillion, that kind of run has helped float the rest. If not for Amazon and Microsoft, which is up 10% for the year, the S&P 500 would be down about 15%, according to Howard Silverblatt...
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