Amazon.com Inc.'s stock (AMZN) surged 2.8% in afternoon trade Wednesday, enough to overtake Apple Inc. (AAPL) to become the second-largest U.S. company by market capitalization. Based on share counts listed in the companies' latest quarterly filings, Amazon's market cap grew to about $754.9 billion, while Apple's stock edged up 0.4% to nudge its market cap up to $751.6 billion. Amazon shares have run up 30% over the past 12 months, while Apple's stock has lost 8.1% and the Dow Jones Industrial Average has slipped 5.9%. Meanwhile, Microsoft Corp. shares (MSFT) slipped 0.1%, but the software giant held onto first place with a market cap of $779.3 billion. Google parent Alphabet Inc. (GOOGL) was still fourth, as the stock rose 0.8% to lift its market cap to $723.7 billion.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 02, 2019 15:18 ET (20:18 GMT)
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