- Branson’s Virgin Galactic takes another step toward space tourism
- Trump’s economy ‘a little under’ 3 percent growth goal: Fed
- As tensions over aid rise, Venezuelan troops fire on villagers, kill two
- Virgin Galactic astronauts describe 'surreal' spaceflight: 'The views are absolutely extraordinary'
- Elementary school teacher captures two students slow dancing on Valentine's Day
Amazon (AMZN) surpassed Microsoft (MSFT) in market value for the first time ever on Wednesday, after its shares added 2.6% to close at a record high of $1,451.05, which lifted its market capitalization to $702.46 billion.
Continue Reading Below
Meanwhile, Microsoft added 1.6% during Wednesday’s session to close with a market capitalization of $699.22 billion.
While Amazon surpassed Microsoft in value during trading on Feb. 7, it gave up its lead by the close of trading.
Amazon’s shares have been on a steep rally since September, and they got another boost following the company’s fourth-quarter earnings report, which showed the company benefited from the record holiday shopping season. The company earned $3.75 per share, up sharply from the $1.54 per share it earned in the year-earlier quarter.