Microsoft Forfeits Most-Valuable Crown to Amazon

(Bloomberg) -- Microsoft Corp. is no longer the top dog on Wall Street.

Shares of the company fell more than 3 percent in the wake of its results on Thursday, and the decline took the company’s market capitalization decisively below that of Amazon.com Inc.

At current levels, Microsoft has a market value of about $803.3 billion, compared with Amazon’s $844.7 billion valuation. While Amazon ended fractionally more valuable in Wednesday’s session -- $817 billion versus Microsoft’s $816 billion -- the gap became far more pronounced as Microsoft fell and as Amazon rose 2.3 percent ahead of its own results.

Microsoft Forfeits Most-Valuable Crown to Amazon

Megacap Internet and technology companies have long dominated on the list of Wall Street’s largest stocks, though the rankings have been volatile of late. Apple Inc. -- for years the biggest name, with a valuation that topped $1.1 trillion in 2018 -- currently stands at the third-largest stock, valued at about $792 billion.

Google-parent Alphabet Inc., which was the third-largest stock earlier this week, currently stands as the fourth, with a market cap of $777 billion.

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