Amazon overtakes Microsoft to become world's 3rd most valuable public company

Amazon has just overtaken Microsoft to become the world’s 3rd most valuable publicly traded company, behind only Apple and Google.

The company closed the day at $1,451.05 per share, giving it a market capitalization of $702.5 billion, slightly more than the $699.2 billion Microsoft clocked in with.

Both companies have been doing very well recently, with Microsoft up 1.6% for the day, and Amazon up 2.6%.

The current ranking is ($ Billion):

1. Apple $849.2
2. Alphabet $746.4
3. Amazon $702.5
4. Microsoft $699.2
5. Facebook $521.5

Amazon is working to grab an ever-increasing share of the commerce pie, both online and in brick and mortar retail, and while Microsoft’s ever-increasing cloud focus has delighted traders, Amazon has a growing reputation for great execution in whatever area it pursues which has attracted investors despite lack of significant profits.

What should, however, be clear from the numbers that the top 4 are all pretty close to each other, making the race to be the first to a $1 trillion market cap still anyone’s game to win.

via Seattletimes