Microsoft's Brief Comeback
08 Gennaio 2019 - 06:37PM
Dow Jones News
By Dan Gallagher
Microsoft's return as the world's most valuable company was
short. But in the current market, Amazon.com shouldn't get too
comfortable either.
After spending a little over a month on top, the software giant
formally ceded its crown based on Monday's closing prices, which
gave Amazon a total market value of about $797 billion compared
with Microsoft's $784 billion. That is more reflective of Amazon's
strong jump of 9% in the first week of the new year, compared with
Microsoft's 1% gain in that time.
Of course, the Seattle neighbors both owe much to Apple Inc.,
which has managed to lose a breathtaking $355 billion in value over
the past couple of months on worries about its slowing iPhone
business.
The coming earnings season could shuffle things even more.
Apple's last report is what first triggered its selloff, and even
Amazon remains about 9% below its price since its own third-quarter
results. Google-parent Alphabet Inc. is also now just about 5%
below both Amazon and Microsoft in terms of market value. In tech,
nothing lasts forever.
Write to Dan Gallagher at dan.gallagher@wsj.com
(END) Dow Jones Newswires
January 08, 2019 12:22 ET (17:22 GMT)
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