Microsoft regained its position as second in the list of the most valued company having $823 billion stock market value ahead of Amazon.
On Friday, Oct. 26, Amazon erased a total of $68.1 billion in market capitalization falling short to Wall Street’s revenue expectation which makes the software giant regained its position to second most valued company.
Amazon’s share deflated up to 7 percent after its holiday season sales missed its target. On the other hand, Microsoft just fell 1.1 percent in broad technology sell-off.
Amazon’s stock market value on Friday was amounting to an astonishing $823 billion above Amazon who has a worth of $805 billion. Founder and chief executive officer of Amazon Jeff Bezos’s net worth also fell down as much as $14 billion as his company’s stock drops.
Microsoft’s average price target was put at a market cap of $963 billion while the average price target for Amazon was at $1.068 trillion.