Below is a chart of the historical market caps for Alibaba (the Chinese version of Amazon) and Amazon.com (AMZN).  As shown, Alibaba (BABA) actually had a higher market cap that Amazon.com (AMZN) for quite some time just after BABA IPOd back in late 2014.  Once AMZN’s market cap crossed above BABA’s in mid-2015, however, AMZN opened up a wide lead for a two-year period.

BABA has been on an absolute tear lately, though, and its market cap has ballooned from $220 billion up to $447 billion since the start of the year.  While AMZN’s market cap has risen more than $100 billion this year as well, BABA has pulled to within $14 billion of AMZN at this point.  Another decent-sized down day for AMZN accompanied by a gain in BABA would see these market caps cross yet again.

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