Amazon becomes the world’s most valuable listed company with a market capitalisation of $797 billion. It takes over the crown from Microsoft which stood at a market value of $783 billion. Amazon’s shares propelled higher 3.4% on Monday after Pivotal Research Group initiated its coverage of the stock with a buy rating, saying the companies opportunities are unconstrained this year.

The research firm also said Amazon shares could jump 20%

*Overtake: to move up to and past (someone or something that is in front of you) by moving faster.