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Beating Microsoft, Amazon becomes world’s 3rd most valuable company

Amazon has become the 3rd most valuable company in the world with a market cap of $702.5 billion. Apple tops the list with $849.2 billion market cap, followed by Google's parent company Alphabet at $745.1 billion. Microsoft was in the third spot till Wednesday, but 2.6% stock surge in favour of Amazon pushed it to the 3rd spot while social media giant Facebook is on the 5th spot on the list.