Microsoft dethrones Amazon, becomes second most valuable U.S. company
Apple was the first U.S. company to cross the $1 trillion threshold at the beginning of August. It then managed to stay at the top, which is not something Amazon can say. After staying second behind Apple, Amazon lost $65 billion in market capitalization, due mostly to a rather weak quarterly report. Meanwhile, Microsoft was steady with relatively no major up or down moves.
$823 billion is what Microsoft’s stock market value was on Friday, compared to Amazon’s $805 billion, according to a Reuters report. The report also mentions that “Microsoft’s market capitalization was Wall Street’s highest in late 1998 through early 2000 before the dot-com bubble burst”.
On Wednesday, Amazon’s stock reportedly fell to the lowest level since 2011. Meanwhile, Microsoft has continued its momentum gaining close to 25 percent in 2018. Apple will report its quarterly results on November 1, and we’ll have a better image of the top three.
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