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Amazon misses Q3 revenue estimates, might be surpassed by Microsoft in market cap

7 7 93
26.10.2018

Amazon stock has taken a beating of late. But, Jeff Bezos is still the richest man in the world.

Amazon just declared its third quarter (Q3) results, and it is a mixed bag.

Even as it posted record profits for the quarter, the Seattle-based tech giant missed revenue expectations, leading its stock to tumble more than nine percent in a day. As a result, Amazon’s market cap took a hit, and now stands at $869 billion from a peak of $1 trillion in September.

According to Market Watch, “That valuation appears to be headed for a healthy trim on Friday. If that decline holds, Amazon would be overtaken by........

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