Amazon.com Inc.’s stock surged 0.8% in midday trade Wednesday, to lift its market value above Microsoft Corp. for the first time, according to data provided by WSJ Market Data Group. With a market capitalization of $704.38 billion, Amazon is now the third move valuable U.S. company, just above 4th-place Microsoft at $701.91 billion. Next up for Amazon is Google parent Alphabet Inc. , which is second with a $746.90 billion market cap. If Alphabet’s stock remained unchanged, it would take a further 6.0% rally in Amazon’s stock to catch it, according to FactSet data. Amazon is still far from 1st-place Apple Inc. , which is valued at $819.71 billion.
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