Amazon briefly edges out Apple for most valuable company

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World’s richest person Jeff Bezos’ Amazon briefly became the world’s most valuable company on Monday, days after Microsoft dethroned Apple. The online retailer’s shares surged 5.2% at its highs, pushing the company’s market capitalisation to around $870 billion. At Monday’s close, Apple was back on top with a market value of $877 billion followed by Amazon at $866.6 billion.The tight race between the trio of high-powered technology stocks coincided with a broad stock market rally after the United States and China agreed on a temporary truce in their ongoing trade dispute.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.