Microsoft has overtaken Amazon last Friday to become to the second most valuable US company after Apple. The overtake took place after a disappointing quarterly report by Amazon. It wiped $65 billion of the online retailer’s market capitalisation.
Apple Inc tops the list at over $1 trillion after crossing that threshold in September. Microsoft’s market capitalisation was Wall Street’s highest in late 1998 through early 2000 before the dot-com bubble burst. Shares of Microsoft remain up nearly 4 percent from Wednesday, when the four-decade-old software company beat quarterly profit expectations, driven by its cloud computing business that competes with Amazon’s.