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.
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.