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):
- Apple $849.2
- Alphabet $746.4
- Amazon $702.5
- Microsoft $699.2
- 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.