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.

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.

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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.

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(IANS)