National

ETV Bharat / business

Microsoft 2nd US firm to pass $2 trillion market cap

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.

By

Published : Jun 23, 2021, 3:32 PM IST

San Francisco (US):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 per cent. Back in April, the company reported that its sales had risen 19 per cent year-over-year to $41.7 billion in the first quarter of 2020.

Read: Microsoft Teams unleashes new hybrid work features

As of writing, Apple's market valuation standards at $2.24 trillion, the report said. Some analysts believe the Cupertino tech giant could become the first to hit a $3 trillion market cap within a 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.

Read: CEO Satya Nadella steps in as Microsoft Chairman

(IANS)

ABOUT THE AUTHOR

...view details