- Apple Inc tops the list at over $1 trillion
SAN FRANCISCO: Microsoft Corp regained its spot as the second most valuable US company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer’s market capitalization.
Apple Inc tops the list at over $1 trillion after crossing that threshold in September. Microsoft’s market capitalization was Wall Street’s highest in late 1998 through early 2000 before the dot-com bubble burst.
Amazon’s shares dropped 7 per cent, the most in nearly three years after its holiday season sales outlook missed targets, fanning concerns that Wall Street’s tech darlings are finally starting to face stronger competition.
Microsoft fell a more modest 2 per cent in a broad technology sell-off that was also driven by a weaker-than-expected report from Google-parent Alphabet Inc, leaving the Nasdaq down 2.1 per cent at midday.
