Microsoft is at risk of falling behind Google in this measure of tech supremacy

Microsoft currently holds the rank of the third-largest U.S. company, but can it maintain its lead with Alphabet nipping at its heels?

Shares of Alphabet

GOOGL GOOG were propelled Wednesday by Tuesday’s release of Gemini 3, rising 3% and bringing the stock up over 55% year to date. The rally sent Alphabet’s market capitalization to $3.44 trillion on Wednesday — within striking distance of Microsoft’s MSFT $3.65 billion.