For a moment today, Microsoft passed Apple to become the most valuable U.S. company

Like the world of technology, the financial world is dynamic and never static. So when you combine the two together, things happen that very few people can predict. For example, back on August 2nd when Apple became the first U.S. publicly traded company to hit a valuation of one trillion dollars, Microsoft's market cap (stock price multiplied by shares outstanding) was $825 billion. Amazon, which would follow Apple into the trillion dollar club about a month later, was 1-B to Apple's 1-A. No one spoke about Microsoft.
It isn't that Microsoft's shares have rallied. Over the last three months, the stock has declined from $109.60 to $106.47. But that 2.9% decline has been dwarfed by Apple's plunge from $217.94 to $174.62 over the same time period, a 19.9% drop. Investors have been worried about slower than expected iPhone sales, which have reportedly led Apple to cut orders for its 2018 models.
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Based on Monday's 4pm closing prices, Apple is valued at $828.64 billion, Microsoft at $817.29 billion, and Amazon at $773.22 billion.