Amazon achieved the greatest ever one-day increase in worth a day after Facebook owner Meta Platforms experienced the largest ever one-day loss of stock market value for a US firm.

Following its spectacular quarterly report, shares of the online retail and cloud computing behemoth soared 13.5 percent on Friday, boosting its market capitalization by nearly $190 billion (around Rs. 14,18,200 crore) by the close of trade.

According to Refinitiv statistics, this surpassed Apple's record $181 billion (approximately Rs. 13,51,000 crore) one-day rise in stock market value on January 28 following the iPhone maker's own spectacular quarterly report.

Amazon is now worth around $1.6 trillion (roughly Rs. 1,41,82060 crore). Meta Platforms' stock fell 0.3 percent on Friday, putting its market capitalization at $660 billion (roughly Rs. 49,26,400 crore).

Amazon's stock soared after the company posted better-than-expected profits late Thursday and announced a 17 percent increase in the price of its yearly US Prime subscriptions.

Amazon's rise came only one day after Meta Platforms' stock market value plummeted by more than $200 billion (approximately Rs. 14,92,800 crore) in the largest single-day loss for a US firm after the social network behemoth released a bleak prognosis.

In a research note, Monness Crespi Hardt analyst Brian White said, "After fighting the post-lockdown blues in 2021, we believe Amazon's fortunes have the potential to recover as 2022 unfolds." "Amazon is in a great position to emerge from this crisis as one of the major benefactors of the digital revolution."

Retail investors looked to win from Amazon's surge. On Friday, according to data on Fidelity's website, Amazon was the most actively traded stock among its users, with sell orders outnumbering buy orders by more than two to one.

According to Refinitiv, Apple, Microsoft, and Google owner Alphabet are the most valuable businesses on Wall Street, with market capitalizations of $2.8 trillion (approximately Rs. 2,09,00000 crore), $2.3 trillion (about Rs. 1,71,67800 crore), and $1.9 trillion (roughly Rs. 1,41,82100 crore).

The stock price of Amazon is still down nearly 15% from its July high of $3,731.41 (roughly Rs. 2,78,500).