Microsoft becomes second US Public Company to pass $2 trillion Club
Since taking the reins in 2014, CEO Satya Nadella has reshaped Microsoft into the largest seller of cloud-computing software.
Tech giant Microsoft reached a $2 trillion market capitalisation in trading, joining a small group of global companies that have crossed that threshold - including Apple. Apple reached its own $2 trillion market cap back in August 2020.
Despite hitting $2 trillion in intraday trading on Tuesday, Microsoft's valuation was about $300 million shy of the high-water mark by the time markets closed, AppleInsider reported. Like Apple, Microsoft has benefitted from the work from home and remote education boom created as a result of the Covid-19 pandemic. Since March 2020, when lockdowns began, Microsoft's stock has surged 64 percent. Back in April, the company reported that its sales had risen 19 percent year over year to $41.7 billion in the first quator of 2020.
Apple's market valuation standards at $2.24 trillion, according to report. Some analysts believe the Cupertino tech giant could become the first to hit a $3 trillion market cap within few years. Along with the technology giants, oil company Saudi Aramco also once surpassed the $2 trillion mark. On Tuesday, its market valuation was $1.88 trillion.
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