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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.
(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]