Microsoft surpassed Amazon to become the second-most valuable U.S. company at $821 billion. As reported by GeekWire, Redmond's market cap hit that amount versus $803 touted by Amazon, but both companies continue to trail behind Apple, which sits above $1 trillion.
The Windows giant enjoyed a better than expected quarterly result this week, thanks in part due to Xbox, cloud services and Surface hardware. It hasn't been a sudden change with Amazon's shares slowly falling due to factors including less-than-ideal earnings.
Interestingly, Microsoft has leaped past Amazon as a competing party in the cloud race with Azure and analysts believe the company will continue further to surpass the big $1 trillion mark. The companies have been neck and neck over recent months alongside Alphabet, but Microsoft appears to be on an upward trajectory.
Microsoft had another massive quarter pulling in $43.1 billion in revenue. Driven by strong growth in commercial, cloud, the company sees a resurgence due to "the dawn of a second wave of digital transformation sweeping every company and every industry." Xbox, Surface, and Windows all did well, too, due to strong holiday sales. Full details ...
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