Amazon, Microsoft, and Apple are in a firm race for a title of the most valuable public company globally. The three giants have agitated around the title for over the past several trading days, all closing with a market capitalization with more than $860 Billion. Microsoft has surpassed Apple in market capitalization recently, but later Apple bounced back to its position. Amazon temporarily overshadowed both the companies during the intraday trading. In a recent time, Apple led with having a market capitalization of $877 Billion, whereas, Amazon followed with $866 Billion, and then Microsoft with the capitalization of $860 Billion.
The competition between these technology giants has aggravated since the technology sector has seen an upturn from declines of October and after the White House’s declaration of a 90-Day trade truce with China. The stocks were closely observed from August when Apple turned into the first company to trade publicly in the U.S. to attain $1 Trillion in market capitalization. Almost a month later, Amazon achieved the same milestone in advance of markets getting closed and ending the day just under the $1 Trillion mark. Microsoft’s lead lately marked an important shift in the technology sector, as the company has not closed a fiscal year in the top chart from 2002 and has not been the most expensive technology stock since 2010.
Recently, Amazon along with Apple was also in news as the companies reported a bad day in trading for popular stocks. The so-called FAANG (Facebook, Amazon, Apple, Netflix, and Google), a basket of technology giants lost over $140 Billion in stock value in the trading session. Amazon stock controlled the list of down turners with a loss of almost $51 Billion in stock value. Amazon’s shares were dropped with about 6% after an administration task force selected by President Donald Trump suggested the U.S. Postal Service as the cost commercial utilization of package delivery services with “intending of optimizing revenue.”