Home > Brands > Amazon > Amazon Dethrones Microsoft As Most Valuable Company

Amazon Dethrones Microsoft As Most Valuable Company

Amazon.com has officially dethroned Microsoft as the world’s most valuable public company, after shares spiked 3.4% on Monday, snaring the top spot.

It’s the latest major move as US tech stocks continue to shuffle, with Amazon notching a market capitalisation of US$797 billion – down from around US$1 trillion in September.

The jolt was enough to surpass Microsoft at US$789 billion, who nabbed the No. 1 spot in November.

In contrast to Amazon, shares in Microsoft climbed 0.1% on Monday.

The shuffle sees both companies edge higher than long-time rival Apple, who held the top spot for several years.

Google parent company Alphabet is currently in third place with a market capitalisation of US$745 billion.

The iPhone manufacturer’s market capitalisation has slumped from a record US$1.1 trillion in October to US$702 billion.

As previously reported, Apple has recently cut its sales outlook, sending shares plummeting to their lowest level since April 2017.

You may also like
Nintendo Tipped To Unveil New Switch In June
Oz Gift Card Scams Pocket $5M In 2018
Apple True Wireless Powerbeats Pro Leaked
Apple Arcade Gaming Service To Launch Later This Year
Huawei CFO & Daughter of CEO, Preferred Apple Products Over Own Companies