Microsoft (MSFT) overtakes Amazon as second most valuable company in USA

Microsoft, Corporation (NASDAQ:MSFT)

Microsoft edged back ahead of Amazon after falling behind the e-commerce giant earlier this year. Amazon faced a punishing Friday, with CEO Jeff Bezos losing $11 billion in equity as the company dropped 7.8 percent and lost $68.1 billion to its market cap.

CNBC provides details:

Facebook, Alphabet and Netflix have all lost more than 15 percent since late July, while the S&P 500 has shed 6.3 percent. Amazon has lost 9.1 percent since then. Friday’s price movement pushes Amazon further away from a $1 trillion market cap, a feat it briefly achieved on Sept. 4. That milestone has only been clinched by one other publicly traded American company: Apple.

Friday was Amazon’s worst day since October 24, 2014. The collective FANG (Facebook, Amazon, Netflix, Google) stocks have underperformed as a whole throughout the past few months.

Microsoft, Corporation shares closed at $106.96 on Friday, down $-1.34 (-1.24%). Year-to-date, MSFT has gained 26.66%, versus a 0.73% rise in the benchmark S&P 500 index during the same period.

MSFT currently has a StockNews.com POWR Rating of B (Buy), and is ranked #2 of 69 stocks in the Software – Application category.