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Overtaking Amazon, Microsoft becomes 2nd most valuable US company

Amazon's loss is Microsoft's gain. As Amazon's share dipped 7%, Microsoft has regained its position as the second most valuable company in US following Apple. Wednesday, Microsoft's shares were up by 4% and its stock value was $823 Billion while Amazon's stock value was at $804 Billion. This is Amazon's steepest fall in last 3 years as they have tumbled up nearly 40% while Microsoft has gained nearly 25% this year.