Microsoft overtakes Amazon as second most valuable U.S. company

Microsoft Corp regained its spot as the second most valuable U.S. company on Friday after a disappointing quarterly report from Amazon.com wiped $65 billion off the online retailer's market capitalisation.Apple Inc tops the list at over $1 trillion after crossing that threshold in September.Microsoft's market capitalisation was Wall Street's highest in late 1998 through early 2000 before the dot-com bubble burst.