Stories
Slash Boxes
Comments

SoylentNews is people

Microsoft Overtakes Amazon as Second Most Valuable U.S. Company

posted by martyb on Sunday October 28 2018, @01:10PM   Printer-friendly
from the money-money dept.

takyon writes:

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.

Original Submission

 
This discussion has been archived. No new comments can be posted.
Microsoft Overtakes Amazon as Second Most Valuable U.S. Company | Log In/Create an Account | Top | 11 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 0) by Anonymous Coward on Monday October 29 2018, @09:48PM

    by Anonymous Coward on Monday October 29 2018, @09:48PM (#755366)

    I thought Microsoft was incorporated in Ireland or some other tax dodge, how do they still qualify as a US company?