Amazon briefly tops list of Wall Street’s most valuable companies

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Amazon on Monday briefly topped the list of Wall Street’s most valuable companies, over Apple and Microsoft as the three battle for the top market value.

The trio of tech giants have been hovering around the same market cap for weeks, with Microsoft topping Apple last week for the first time in eight years, Reuters reported.

{mosads}Amazon rose as much as 5.2 percent at its high on Monday, putting its market capitalization at more than $870 billion, Bloomberg reported. That left the online retailer above Apple’s market capitalization of $864.8 billion and Microsoft’s $859 billion.

Apple became the first U.S. corporation to exceed $1 trillion in value on Aug. 2, with Amazon not long after exceeding that threshold in September. The combined value of both tech giants is equal to roughly 10 percent of U.S. gross domestic product.

President Trump has repeatedly targeted Amazon’s over its size, saying it was part of a possible “very antitrust situation” over the summer.

Trump has also slammed the alleged political leanings of its CEO Jeff Bezos, who owns The Washington Post.

Amazon seized national attention with its high-stakes competition to determine which U.S. city would host its second headquarters, dubbed “HQ2.” Last month, the company announced its decision to split the headquarters between Arlington, Va., and Queens, N.Y., with 25,000 new jobs promised in each location. Both regions are bracing for Amazon’s footprint.

The company accounts for a significant portion of U.S. retail sales, accounting for 49 cents of every e-commerce dollar spent in the U.S., The New York Times reported.

Tags Amazon Apple Donald Trump Microsoft Stock market Valuation

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