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.

You can find more financial details at the source link below.

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Anton D. Nagy
Anton is the Editor-in-Chief of Pocketnow. As publication leader, he aims to bring Pocketnow even closer to you. His vision is mainly focused on, and oriented towards, the audience. Anton’s ambition, adopted by the entire team, is to transform Pocketnow into a reference media outlet.