Amazon briefly edges out Apple for most valuable company

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.