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

www.oann.com | 8/21/2018 | Staff
oxboy (Posted by) Level 4
SAN FRANCISCO (Reuters) – Microsoft Corp regained its spot as the second most valuable U.S. company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer’s market capitalization.

Apple Inc 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 - Shares - Percent - Years - Holiday

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 Inc , leaving the Nasdaq down 2.1 percent at midday.

Shares - Microsoft - Percent - Wednesday - Software

Shares of Microsoft remain up nearly 4 percent from Wednesday, when the four-decade-old software company beat...
(Excerpt) Read more at: www.oann.com
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