Move over Microsoft. Amazon is now the biggest company in the state of Washington — and third largest in America.

Amazon’s market value soared above $685 billion, making the Jeff Bezos-led giant worth more than Microsoft for the first time ever. Microsoft’s market value currently stands at $684 billion.

Amazon (AMZN) now trails only Apple (AAPL), which has a market cap of about $815 billion, and Google owner Alphabet (GOOGL), valued at $750 billion.

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These tech giants are all in a race to the magical trillion dollar level, a height that no U.S. company has topped as of yet.

But Amazon clearly has the most momentum. Its stock has soared nearly 21% this year, well ahead of the gains of Alphabet and Microsoft. Apple’s stock has fallen year-to-date.

Bezos has already passed Microsoft (MSFT) co-founder Bill Gates as the wealthiest person on the planet back in October, according to Forbes and Bloomberg. Bezos is now worth $116 billion, nearly $25 billion more than Gates.

Berkshire Hathaway (BRKB) CEO Warren Buffett and Facebook’s (FB) Mark Zuckerberg rank third and fourth in the world’s richest rankings.

CNNMoney (New York) First published February 6, 2018: 10:11 AM ET

Source Link:
http://money.cnn.com/2018/02/06/investing/amazon-microsoft-market-value/index.html

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