Amazon Surpasses Wal-Mart in Market Cap
Investors loved Amazon.com's quarterly profits so much Thursday that the online retailer is now worth more than the nation's top retailer, Wal-Mart. Shares of Amazon soared a staggering $81.82, or 17 percent, to $564.00 in afterhours trading. That jump makes Amazon worth $262.7 billion — which is 12 percent more than Wal-Mart's $233.5 billion market value as of the end of trading Thursday. Keep in mind that Amazon has passed Wal-Mart in terms of the value of the company in the eyes of investors. Wal-Mart still generates more sales than Amazon.