Shares of Amazon.com Inc. AMZN, +3.26% ran up 2.5% in morning trade Monday, extending their 14% surge over the previous two weeks, enough to propel the e-commerce and cloud giant past Microsoft Corp. MSFT, +1.27% into first place on the list of largest U.S. companies by market capitalization. Amazon’s market cap reached $789.2 billion, while Microsoft’s stock MSFT, +1.27% edged up 054% to lift its market cap to $786.3 billion. Amazon’s market cap is still well below its record of $993.2 billion reached on Sept. 4, which at the time was second to Apple Inc. AAPL, -0.69% at $1.1 trillion. Apple’s stock was last unchanged with a fourth-place market cap of $703.6 billion. Google parent Alphabet Inc. shares GOOGL, -0.20% slipped 0.8% but its market cap was third at $744.2 billion. Amazon shares has shed 14.6% over the past three months, while the Dow Jones Industrial Average DJIA, +0.85% has lost 11.1%.
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