Amazon overtakes Microsoft to become world's 3rd most valuable public company

Rodiano Bonacci
Febbraio 15, 2018

However, Amazon is a strong contender as its long-running market rally continues unabated.

Amazon's market value surged to more than $702 billion on Wednesday, making the Seattle-based company the third-largest USA public company by that measure - surpassing its regional neighbor Microsoft for the first time.

Amazon shares climbed $10.45 on Thursday to $1461.50, while Microsoft rose 67 cents to $91.48. Microsoft's market value is hovering right around $700 billion.

The Bloomberg Billionaires Index put Bezos' net worth at $118 billion on Wednesday, having benefitted from a $2.2 billion gain during the day and a $19.3 billion increase year to date.Gates' wealth was $90.3 billion, up $92 million for the day, but down $1.6 billion year to date. The company is now valued at $699.22 billion on Wednesday's close. Gadget maker Apple is still number one with a market valuation of $849.2 billion.

Amazon has almost quadrupled in value over the last three years, a surge that made founder and chief executive Jeff Bezos the world's richest man, displacing his Medina neighbor, Microsoft co-founder Bill Gates.

Microsoft has been on an upswing of late - buoyed by a cloud-computing business that has emerged as the main challenger to market-leading Amazon Web Services - and given investors confidence that the company can survive declining personal computer sales. Microsoft's 41 percent increase in the past 12 months was not enough to offset the online retailer's meteoric rise.

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