Microsoft just leaped over Amazon as second most valuable U.S. company
Microsoft overtook Amazon as second most valuable U.S. company on Friday after investors punished Jeff Bezos' e-commerce behemoth for a disappointing quarterly earnings report, wiping $65 billion off the online retailer's market capitalization.
Apple still tops the list at over $1 trillion after crossing that threshold in September. Microsoft's market capitalization was Wall Street's highest in late 1998 through early 2000 before the dot-com bubble burst.
Amazon's shares dropped 7 percent, the most in nearly three years after its holiday season sales outlook missed targets, fanning concerns that Wall Street's tech darlings are finally starting to face stronger competition.
Microsoft fell a more modest 2 percent in a broad technology sell-off that was also driven by a weaker-than-expected report from Google-parent Alphabet.
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Amazon is now the USA's most valuable publicly-traded company by market value:
Amazon's ended trading Monday with a market value of about $797 billion, compared with Microsoft's $783 billion. Apple, which had been part of a close three-way race for the seat, is now down to about $702 billion in market value after plunging last week on the news of its weak iPhone sales. Google parent company Alphabet has surpassed Apple with a market value of about $748 billion.
Previously: Microsoft Overtakes Amazon as Second Most Valuable U.S. Company
(Score: 5, Funny) by SomeGuy on Sunday October 28 2018, @02:23PM (1 child)
Which when you look at Windows 10, makes you realize that this says more about the value of US companies.
(Score: 0) by Anonymous Coward on Sunday October 28 2018, @04:22PM
to me it shows just what kind of invalids and sellouts my fellow "americans" are.
(Score: 0) by Anonymous Coward on Sunday October 28 2018, @02:54PM (1 child)
Not trolling, just wondering if MS still has the shares of Apple it bought all those years ago to keep Apple afloat? If so, those are worth a lot at this point.
(Score: 2) by takyon on Sunday October 28 2018, @07:49PM
https://www.engadget.com/2014/05/20/what-ever-became-of-microsofts-150-million-investment-in-apple/ [engadget.com]
Shares were sold prematurely. Microsoft only owns a small amount of Apple these days.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 2) by Nerdfest on Sunday October 28 2018, @02:59PM
Looks like all the bribes to get people to use Azure are paying off. Anyone thinking Microsoft won't lock them into an expensive cloud platform with poor availability deserves what they get at this point.
(Score: 1, Insightful) by Anonymous Coward on Sunday October 28 2018, @05:37PM (4 children)
Anyone consider middle-class discretionary spending might be going down the shitter this year?
(Score: 1, Insightful) by Anonymous Coward on Sunday October 28 2018, @06:32PM
Yep. The inherent contradictions of capitalism bite it in the ass every time.
(Score: 1, Informative) by Anonymous Coward on Sunday October 28 2018, @06:33PM (2 children)
Thrift shops FTW
(Score: 0) by Anonymous Coward on Sunday October 28 2018, @09:18PM (1 child)
AliExpress and be quick before postage cost explodes.
(Score: 0) by Anonymous Coward on Monday October 29 2018, @06:43PM
> AliExpress and be quick before postage cost explodes.
When ordering from AliExpress you will run into plenty of bad orders with high return costs or no means of return at all. Those wasted purchases add up and need to be factored into the costs. You may get lucky the first few times but stick with AliExpress and you will get enough bad orders to cancel out any savings.
(Score: 0) by Anonymous Coward on Monday October 29 2018, @09:48PM
I thought Microsoft was incorporated in Ireland or some other tax dodge, how do they still qualify as a US company?