Amazon jumps past Microsoft to take top spot on largest U.S. companies list
Shares of Amazon.com Inc. ran up 2.5% in morning trade Monday, extending their 14% surge over the previous two weeks, enough to propel the e-commerce and cloud giant past Microsoft Corp. into first place on the list of largest U.S. companies by market capitalization. Amazon's market cap reached $789.2 billion, while Microsoft's stock edged up 054% to lift its market cap to $786.3 billion. Amazon's market cap is still well below its record of $993.2 billion reached on Sept. 4, which at the time was second to Apple Inc. at $1.1 trillion. Apple's stock was last unchanged with a fourth-place market cap of $703.6 billion. Google parent Alphabet Inc. shares slipped 0.8% but its market cap was third at $744.2 billion. Amazon shares has shed 14.6% over the past three months, while the Dow Jones Industrial Average has lost 11.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.