Amazon overtakes Microsoft to become world's 3rd most valuable public company

Amazon overtakes Microsoft to become world's 3rd most valuable public company

Amazon's market value surged to more than $702 billion on Wednesday, making the Seattle-based company the third-largest USA public company by that measure - surpassing its regional neighbor Microsoft for the first time.

Apple Inc.'s $819 billion market capitalization remains Wall Street's largest, followed by Alphabet Inc., the parent of Google, at $736 billion.

One such example is Amazon's clear and established lead ahead of Microsoft in the cloud computing market, with AWS now holding a 34% market share compared to Microsoft Azure's 13%, according to Synergy Research Group.

Amazon's revenue has grown by at least 19 percent each year for the last decade, a record unmatched among companies with sales of more than $1 billion.

The company reached the milestone despite Microsoft shares rising 1.5 percent on the day to $90.81.

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Must Watch Stocks: Lam Research Corporation (LRCX), Halcon Resources Corporation (HK)
Halcon Resources Corporation's Average Earnings Estimate for the current quarter is $-0.01, according to consensus of 10 analysts. The stock witnessed -3.88% declines, -12.53% declines and 14.23% gains for the 1-month, 3-month and 6-month period, respectively.

Influential Analyst Rating Changes: Banco Santander-Chile (BSAC), Anika Therapeutics, Inc. (ANIK)
The stock has actually weakened in the past week, as the company has gathered a -3.08% return in the past 5 trading days. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company.

The value ranking of the tech titans was stable throughout 2017, although Amazon has been on the upswing since cracking the Top 10 in the fourth quarter of 2015.

While Microsoft managed to post some gains on the same day, it was not enough to offset Amazon's increase.

Amazon has almost quadrupled in value over the last three years, a surge that made founder and chief executive Jeff Bezos the world's richest man, displacing his Medina neighbor, Microsoft co-founder Bill Gates.

These continual and diverse advancements from Amazon have led to CEO Jeff Bezos becoming the world's richest man of all time, with both Forbes and Bloomberg valuing his net worth at over $100bn.

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