Three huge companies are now in a tight battle to be the world’s most valuable public company, with Amazon stepping up to join Apple and Microsoft in the fight, CNBC reports.
The report notes that as of today’s stock market close, Apple took the lead with a market cap of $877 billion. Microsoft had topped Apple at the end of trading last week.
“The three have tossed around the title over the past few trading days, each closing with a market cap over $860 billion,” CNBC reports. “Microsoft surpassed Apple in market cap on Friday, only for Apple to overtake it again on Monday. Amazon briefly eclipsed both companies during intraday trading Monday. As of Monday’s close, Apple took the lead with a market cap of $877 billion. Amazon followed at $866 billion, then Microsoft with $860 billion.”
CNBC adds: “The horse race between these tech giants has intensified as the tech sector has seen an upswing from October declines and following the White House’s announcement of a 90-day trade truce with China on Saturday. The stocks have been closely watched since August, when Apple became the first publicly traded company in the U.S. to reach $1 trillion in market cap. About a month later, Amazon reached the same milestone before markets closed, ending the day just below the $1 trillion mark.”