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Amazon to Edge Out Apple for Being Most Valuable Company

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Published on : Dec 04, 2018

On Monday, Amazon.com has become to be the most valuable company on the Wall Street in the intraday trade. This happened days after the Microsoft Corp had dethroned the long-time leader company, Apple. Amazon had rose by around 4.7 percent at one point of time, which resulted in putting the market capitalization to a value of $865 billion. Furthermore, at the same time, Apple has traded up around 2.1 percent, thus resulting it in a market capitalization of around $864.8 billion.

On Friday, Microsoft had closed above the market capitalization of Apple for the first time in the last eight years. It went up by 0.9 percent and further leaving its stock value at around $859 billion, which will be third in the group. The leading position of Amazon was only for a few seconds. Apple was back on the top position with a 3.49 percent rise in their stock, which has resulted in a total of $877 billion. The second position was claimed by Amazon that went up by 4.86 percent with a stock value of around $866.6 billion. Furthermore, on the third position was taken by Microsoft that went up by 1.08 percent and a stock value of around $860.4 billion.

These three technology giants have been facing a stiff and intense competition and has been coincided with a stock market rally. This has happened after China and the United States have agreed upon a temporary truce in the current trade dispute. Furthermore, Apple in the month of August had become the first publicly listed company in the U.S. that has reached a value of around $1 trillion stock value; however, the share prices of the company has fallen suddenly in the last few months as the investors are worried concerning the reducing demand for iPhones.

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