Amazon eclipses Microsoft as most valuable US company

Amazon is now America’s most-valuable firm

Amazon is now America’s most-valuable firm

Amazon closes the market Monday at $797 billion.

Meanwhile, Microsoft's stock edged up by less than 1 percent to finish at $102.06, leaving the computer software maker's value at $784billion. Market capitalization is determined by multiplying a company's share price by the number of shares it has outstanding.

Amazon surpassed Microsoft to become the world's largest public company on Monday, in the latest example of the list of Wall Street's biggest names being reordered.

Idris Elba's Daughter Opens Up About Her Mother's Mental Illness
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Such megacap technology and internet stocks have been jockeying for the top spot for weeks, and Amazon briefly claimed the crown in early December. Taking over Microsoft's position is Amazon, which ended Monday with a market cap of $796 billion compared to Microsoft's $783 billion cap (via Business Insider). The retailer hit a $1 trillion valuation once last September, but fell below the mark after markets' close.

Apple confirmed some of investors' worst fears last week when it warned that disappointing demand for iPhones, especially in China, caused its revenue for its most recent quarter to fall well below the projections of its management and industry analysts. In third place is Alphabet, the parent company of Google, which has a market cap of $745 billion.

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