Amazon stock surges to surpass Microsoft as most valuable U.S. company
Amazon.com Inc. shares rallied Monday to unseat Microsoft Corp. as the most valuable U.S. company based on market capitalization. Amazon shares surged 3.4% to close at $1,629.51 for a market cap of $796.78 billion, while shares of Microsoft ticked 0.1% higher to close at $102.06 for a market cap of $783.57 billion. Microsoft had unseated Apple Inc. as the most valuable U.S. company at the end of November. Over the past six trading days, Amazon's stock has rallied more than 11% to catapult the company from fourth place to first after tacking on $74.1 billion in market cap, according to Dow Jones data. Apple closed in fourth place at $701.99 billion following a 0.2% decline, and Alphabet Inc. held in third place with a cap of $745.63 billion after Monday's 0.2% decline. In Monday's broader market, the Dow Jones Industrial Average rose 0.4%, the S&P 500 index advanced 0.7%, and the tech-heavy Nasdaq Composite Index gained 0.9%. 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.