Microsoft overtakes Amazon as second largest company by market capital

29 Oct 2018_campuscad


On Friday 26, 2018 Amazon market value dropped by whopping $68 billion helps to put Microsoft in second spot due missed revenue expectation of 3rd quarter on Wall Street.

Amazon market capital stands approximately $803 billion on Friday. E-commerce giant released its earnings report on Thursday.

Amazon reported revenue of $56.6 billion against analyst expectations of $57.1 billion leads to many investors to sell the AMZN stock.

The software giant Microsoft which shows profitable earning reports due to strong revenue from its intelligent cloud computing platform Azure.Amazon ad

Microsoft posted $26.82 billion revenue in 3rd quarter of 2018 and forecast a better growth and sales in next quarter.

Microsoft market capital on Friday was $823 billion ahead of Amazon.

Apple is the only publicly traded company in the US market with $1 trillion market capital.

Google parent Alphabet inc. shares also dropped as it missed the revenue expectations by Wall Street analysts. Google posted $33.7 billion revenue for 3rd quarter.

Amazon stocks will up as it has umbrella of tech services including cloud computing, Advertisement, Retail giant Whole Foods, with largest e-commerce platform ahead of festival season.

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