Therese Poletti’s Tech Tales: Tech is king of Wall Street, thanks to the cloud

The main lesson of this corporate earnings season has been the dominance of technology on Wall Street, and the most dominant companies have something in common: the cloud.

As earnings have flooded the markets in the past two weeks, technology giants reordered the makeup of the most valuable companies in the U.S. On Monday, shares of Amazon.com Inc. AMZN, -0.93% continued last week’s climb and closed at a record high, surpassing Exxon Mobil Corp. to become the fourth most valuable company in the U.S. In what appears to be a first, the five most valuable U.S. stocks belong to tech companies: Apple Inc.

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