Microsoft switches seats with Amazon as the second most valuable US company
Microsoft just regained its position as the second most valuable US company by market capitalization after losing it to Amazon back in April this year. The news comes after Microsoft reported good quarterly profit driven by its cloud computing business whereas Amazon lost $65 billion off of its market cap.
Apple still tops the charts with over $1 trillion value followed by Microsoft and Amazon. The latter's shares dropped 7% after missing targets on its holiday season sales. Microsoft is now valued at $823 billion - well above the $805 billion market cap of Amazon.
Apple is going to report its quarterly results on November 1, so we are eager to see if there are any changes there but given the iPhone XS and XS Max release, the results should be more than satisfactory and will keep the company afloat.