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 were just $27.4 billion richer, with Alphabet seeing $22.75 billion of those gains. Microsoft saw the smallest gain, since it missed quarterly revenue estimates when it reported $23.56 billion, just slightly below analysts’ estimates of $23.62 billion.
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.
Either way, Amazon, Microsoft and Alphabet aren’t doing too bad: The three posted combined revenue of about $84 billion in the first quarter. As a whole, the S&P technology sector has outperformed sector so far this year, racking up sales even as consumer spending has been flattish overall.