Microsoft Overtakes Amazon As Second Most Valuable US Company

29th October 2018

A disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer’s market capitalisation.

Software company Microsoft has regained its spot as the second most valuable US company on Friday, pushing one of its main rivals, Amazon, down to third place.

The four-decade-old software company beat quarterly profit expectations, driven by its cloud computing business that competes with Amazon’s.

Meanwhile, a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer’s market capitalisation.

Amazon’s shares dropped 7 percent, the most in nearly three years after its holiday season sales outlook missed targets, with analysts believing that the company is finally facing more serious competition from other retailers.

Apple remains at the top of the list at over $1 trillion after crossing that threshold in August. The company will report quarterly results on 1st November.


30th October 2018

Further expansion will lead to a total capacity of up to 200 million, nearly twice the capacity of the world's busiest airport last year, Atlanta.

24th October 2018

The proposal also calls for a reduction in single-use plastic for food and drink containers like plastic cups.

23rd October 2018

Gilberto diversified the company away from the clothing business, and helped grow it into a multi-billion euro giant.

23rd October 2018

Italy defended its plans, saying hard decisions needed to be taken to encourage growth.