TheMicrosoftOfficially joined an elite group of companies with a market capitalization of $ 2 trillion.
It is America’s second-largest publicly traded company. Appleton reaches this mark. The oil company Saudi Aramco’s 2019 public offering of NASDAQ was also successful, even though its market value was US$ 1.88 trillion on Tuesday (22).
Microsoft’s market capitalization surpassed $2 trillion on Tuesday and the closing of trading was just $300 million lower. Its shares increased 1.1% to $265.51 during the trading session.
The company reached the $2 trillion mark in just two years, having already crossed the $1 trillion mark in market capitalization.
Covid-19 was a key factor in helping Microsoft reach its goals. As people spend more time using their smartphones, there is a growing demand for computers, gaming systems, and cloud computing platforms.
The success of tech companies and a stock market rally following the past crisis has elevated their positions. Since March 2020, when the United States began to have pandemic blockades, Microsoft shares have increased 64%.
The company reported that April sales rose 19% year-over-year to $41.7 billion for the three months ending March 31.
Satya Nadella, CEO of Google, stated that the digital adoption curves have not slowed down after a year of pandemics. “We are building the cloud of the future, expanding our market and innovating across all layers of technology to help customers transform and be resilient.”
Apple’s market capitalization topped $2 trillion in August and is currently at $2.24 trillion. Two other tech giants are also chasing this number, including Microsoft.
amazon Tuesday, the market capitalization reached $1.77 trillion and Google’s parent company was also at $1.77 trillion.AlphabetHit $1.67 Trillion.