Microsoft has lost its spot today as the world’s most valuable company after around five weeks as top dog. Taking over Microsoft’s position is Amazon, which ended Monday with a market cap of $796 billion compared to Microsoft’s $783 billion cap (via Business Insider).
Microsoft first took the top spot in November, when it surpassed Apple, which had held the position for years. Microsoft has been on the rise for some time after finding its footing in building out its cloud infrastructure, Office 365, and other services.
Still, it’s likely we’ll see tech companies continue to wrangle over the number-one spot in the coming months. Beyond Microsoft and Amazon, Google and Apple still remain in close competition with market caps of $745 billion and $701 billion, respectively. Given the volatility of the market recently, it wouldn’t be surprising to see the title of “most valuable company in the world” change several more times.