Amazon overtakes Microsoft as most valuable US firm amid market turmoil

Amazon overtakes Microsoft as most valuable US firm amid market turmoil

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Amazon has eclipsed Microsoft as the most valuable publicly traded company in the US as a see-sawing stock market continues to reshuffle corporate America’s pecking order.

The shift occurred on Monday after Amazon’s shares rose 3% to close at $1,629.51 and lifted the e-commerce leader’s market value to $797bn.

Microsoft’s stock edged up by less than 1% to finish at $102.06, leaving the computer software maker’s value at $784bn.

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