Amazon is now the most valuable public company in the world, passing Microsoft

Amazon is now the largest company by market value, overtaking Microsoft’s hold on the title.

Amazon’s market value was about $ 790 billion Monday morning, compared to Microsoft’s $ 785 billion. Apple, which had been part of a close three-way race for the seat, is now down to about $ 694 billion in market value after plunging last week on the news of its weak iPhone sales. Google parent company Alphabet has surpassed Apple with a market value of about $ 740 billion.

Amazon’s stock was up about 2.7 percent on Monday, trading around $ 1,618 per share, while Microsoft was up just about half a percent at around $ 102 per share. Microsoft announced Monday it was working with Kroger to take on Amazon’s cashierless Amazon Go stores with its own take.

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