Amazon Is the New King of Seattle as Market Cap Passes Microsoft’s

Business news

Powered by a stunning quarterly earnings report, (AMZN) surged past Microsoft to become the world’s second-largest company by market capitalization—and the largest in Seattle. Amazon (AMZN) shares on Friday have rallied 3.7%, to $3,165.59, giving the company a valuation of $1.58 trillion, while (MSFT) (MSFT) is off 1.8%, to $200.32, giving it a valuation of $1.52 trillion. At least five firms—Goldman Sachs, Deutsche Bank, J.P. Morgan, UBS and JMP Securities—set price targets at $4,000 or higher.

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