business news in context, analysis with attitude

Fortune reports that yesterday Amazon achieved a market capitalization of $790 billion - which allowed it to leapfrog Microsoft, with a $785 billion market cap, to become the most valuable publicly traded US company.

Microsoft had been number one since late November, when it passed Apple to take the top spot after eight years during which Apple was the most valuable US company. The story points out that yesterday “Apple wasn’t among the top three most valuable companies. Instead, Google parent Alphabet was third in third place with a $740 billion market value, significantly higher than Apple’s $694 billion.”

Fortune notes that this shift in fortunes “came the same day that Microsoft announced a new partnership with Kroger to create futuristic, digitally savvy grocery stores. This is a direct challenge to Amazon, which acquired Whole Foods in 2017 and has been rolling out brick-and-mortar, cashierless retail stores across the country.”
KC's View:
I actually don’t pay too much attention to this stuff. Amazon will hold the top spot until something happens - maybe something that has nothing to do with whether or not it is doing things right - that either advances somebody else or causes its value to shrink a bit. What’s more important, I think, is to be number one in terms of having an innovative culture that decries sacred cows and celebrates disruption.