Microsoft joins Apple in $2 trillion market cap club

Share this article


Microsoft’s stock is up 64% since the pandemic forced people to work and learn remotely.

Jason Hiner/CNET

Microsoft joined an exclusive club on Tuesday, becoming only the second US public company to reach a market capitalization of $2 trillion.

The company hit the threshold as shares rose as much as 1.2% before sliding back a little to close at $265.51, up 1.1%, and giving the company a closing market cap of $1.99 trillion. The milestone comes two years after the company surpassed the $1 trillion market cap mark.

Microsoft hit the lofty market cap roughly 10 months after fellow tech giant Apple hit the mark in August 2020. Apple currently has a market cap of $2.23 trillion.

Oil company Saudi Aramco, which trades on the Saudi Tadawul exchange, surpassed the $2 trillion mark on its second day of trading in 2019 but had a market cap of $1.88 trillion on Tuesday.

Microsoft’s shares have been boosted, in part, by the pandemic. As lockdowns forced many to begin working and learning remotely more than a year ago, demand has increased for Microsoft’s software and cloud computing services. Since stay-at-home orders went into effect in March 2020, Microsoft’s stock is up more than 64%.

In April, Microsoft posted a third-quarter profit of $14.8 billion, up 38% from the same period last year. Revenue for the quarter was up 19%.

“Over a year into the pandemic, digital adoption curves aren’t slowing down,” Microsoft CEO Satya Nadella said in a statement at the time. “They’re accelerating, and it’s just the beginning.”

Amazon and Google are also gunning to join the $2 trillion club. Coming in at No. 3 on the list of largest tech companies by market cap is Amazon, with a $1.76 trillion valuation, followed closely by Google’s $1.67 trillion.

Source link

Tags: , , , , , ,
How to watch The Suicide Squad on HBO Max: Everything you need to know
Philips recalls sleep apnea machines, ventilators

Best rewards credit cards for June 2021

iPhone 12 water test: How deep can Apple’s phone really go?

ASRock’s DeskMini Max concept houses AMD Ryzen, dGPU and liquid cooling in a 10L case

Fast and Furious 9 review: The Godfather II of Vin Diesel car crash movies

Nvidia is increasing supply of the RTX 3060 from next month

Nvidia is increasing supply of the RTX 3060 from next month

I switched from Android to iPhone and here’s what happened

iPhone 13 camera: The specs and features the rumors say we’ll see

Watch Microsoft

Watch Microsoft’s Windows 11 unveiling right here at 8am PT / 11am ET

Aliens could have already spotted Earth from over 2,000 different star systems

Earth-like worlds in the Milky Way may be a lot less common than we thought

You May Also Like