According to Securities Times.com, in 2018, the three major U.S. stock indexes all recorded their biggest annual decline since 2008.  Among them, although technology stocks are ' seriously injured', the battle for the crown of market value is getting fiercer and fiercer.

 The old technology giant Microsoft has a firm foothold and held the title of US stock and even the world's most valuable listed company at the end of 2018.  As of the last trading day in 2018, Microsoft's share price was reported at US $ 101.57, with a market value of US $ 779.8 billion.  Apple has a market value of 749.1 billion US dollars and Amazon has a market value of 734.4 billion US dollars. This is also the first time since 2002 that Microsoft has ended a year as a listed company with the highest market value in the world.

 Since early October last year, U.S. technology stocks have suffered a round of collective falls. Microsoft and Apple are no exception, but Microsoft's share price has declined relatively little.  In the fourth quarter of last year, Apple's share price plunged 30 %, Amazon's fell 25 %, and Microsoft's fell only 11 % during the same period.  For the whole year, Microsoft's stock price rose 19 %, far outperforming the market.  For 2018, the S & P 500 index fell 6.2 %, the Dow 5.6 %, and the Nasdaq 3.9 %.

 Once, Microsoft was the world's largest company by market value.  As early as 1999, Microsoft set a record market value of 620.58 billion US dollars.  At that time, Google had just started, and Amazon was still a mere e-commerce company.  In 2010, Apple's market value surpassed Microsoft's for the first time. At that time, Microsoft was struggling to cope with the slowing demand for personal computers, while Apple was in the limelight and smartphones such as iPhone were experiencing explosive growth.  In February 2014, Microsoft's decision at that time to appoint Nadella as chief executive once surprised the industry.  However, after Nadella took office, Microsoft's road to transformation is getting better and better, from over-reliance on Windows to more yuan of business areas such as cloud computing, open source software and cross-platform services.  At the same time, Microsoft's market value once soared from over $ 200 billion to over $ 800 billion.