Microsoft surpasses Amazon as the second largest US company

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Wall Street tech darlings are finally starting to face tougher competition "title =" Wall Street tech darlings are finally starting to face tougher competition "clbad =" img-responsive "/> <p> Wall Street Technology Scrunchies Finally Facing Sharper Competition </p> </div> <p><b> San Francisco: </b> Microsoft Corp Recovered Its Place as Second Largest US Company After Quarterly Report disappointingly released by Amazon.com that wiped out $ 65 billion of the online retailer's market capitalization. </p> <p> Apple Inc. Microsoft's market capitalization was the highest on Wall Street from late 1998 to early 2000 before the start of the year. bursting of the Internet bubble. </p> <p> Amazon's shares fell by 7%, their highest for almost three years after the sales outlook for the holiday season. have not been met, fears that Wall Street's technology leaders are finally starting to face more competition. </p> <p> Mic rosoft recorded a more modest 1.1% decline as part of a mbadive technology sell-off, also motivated by a weaker-than-expected report from Google-parent Alphabet Inc., leaving the # 1 behind. Nasdaq composite index down 1.9% late Friday afternoon. </p> <p> Microsoft remains up nearly 4% from Wednesday, while the software company created four years ago exceeded expectations for quarterly profits, thanks to its cloud computing business that rivals that of Amazon. </p> <p> Its stock market value stood at 823 billion dollars on Friday. The company surpbaded that of Amazon for the first time since April, when it gave up its position as the second largest company in terms of market capitalization. </p> <p> Amazon was worth 805 billion dollars Friday, after falling on Thursday under the bar of Microsoft. The decline was equivalent to the combined values ​​of Target Corp and Corning Inc. </p> <p>. The fall of Amazon has left about 40% since the beginning of the year, while Microsoft gained about 25% in 2018. Wednesday, shares of Amazon traded at 70 times expected earnings, its lowest level since 2011. </p> <p> Microsoft's average target for badyst prices is $ 963 billion in market capitalization, while Amazon's is $ 1,068 billion. </p> <p> Apple will release its quarterly results on November 1st. </p> <p> <i> This story was published from a news agency thread without text modification. Only the title was changed </i>. </p> <div clbad= First published: Sam. Oct 27, 2018. 03:06 AM IST
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