SINGAPORE (Dec 17): Amid the huge selloff on Wall Street over the past two weeks, software behemoth Microsoft became the largest company in the world by market capitalisation once again, overtaking smartphone giant Apple and e-commerce supremo Amazon.com. The shuffle at the top of the technology sector may seem like a sign of times but the new world order of listed global corporates has more to do with just how much the market has punished Apple (whose stock is down 23% from its peak) and Amazon.com (down 17% from its peak) in recent weeks than anything Microsoft itself has done in terms of revenues or even profits.

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