“Amazon.com briefly became the most valuable company on Wall Street in intraday trade on Monday, days after Microsoft Corp dethroned long-time leader Apple Inc,” Noel Randewich reports for Reuters. “Amazon rose as much as 4.7 percent, putting its market capitalization at $865.0 billion. Apple traded up 2.1 percent, giving it a market capitalization of $864.8 billion.”
“Microsoft, which on Friday closed above Apple’s market capitalization for the first time in eight years, was up 0.9 percent, leaving its stock market value at $859.0 billion, third in the group,” Randewich reports. “Apple in August became the first U.S. publicly-listed company to reach a $1 trillion market capitalization, but its share price has fallen sharply in recent months as investors worried that demand for iPhones was losing steam.”
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MacDailyNews Take: The only “investors” who are worried that demand for iPhones is losing steam are those who are led by the nose by so-called analysts who are in the midst of pitching a $300+ billion hissy fit over losing their precious-yet-ultimately-meaningless iPhone unit sales numbers.
Smart investors are accumulating during this deep discount sale.
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