Mike Peterson
Microsoft reached a $2 trillion market capitalization in trading Tuesday, joining a small group of global companies that have crossed that threshold — including Apple.
The technology giant is now the second publicly traded U.S. company to reach a $2 trillion market valuation. 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. Its share price is currently sitting at $265.51 as of 5:23 p.m. Eastern time.
Like Apple, Microsoft has benefitted from the work-from-home and remote education boom created as a result of the coronavirus pandemic. Since March 2020, when lockdowns began, Microsoft's stock has surged 64%.
Back in April, the company reported that its sales had risen 19% year-over-year to $41.7 billion in the first quarter of 2020.
As of writing, Apple's market valuation stands at $2.24 trillion. 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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13 Comments
Nice to see some benefiting during the COVID virus.
As a kid I remember hearing that in times of high inflation, book companies sold more books, because that was a cheap person's way to take a vacation. So I've always remembered that in any economic crisis there will always be some winners.
Evidently, completely fucking up mobile including the failed Nokia merger and Windows mobile, the failed MIcrosoft retail stores, weak Microsoft Surface device sales, failed wearables efforts, failed content services including MS App Store and music, …
Evidently, it all does not matter how badly you fuck up
I remember reading seeing many forum members her claim that MS was going to be going under soon. MS makes a lot—I mean a lot—of mistakes (see Red Oak's comment for a handful of them), but if your successful services are still doing great you aren't going to be shuttering your doors.
I believe March 2020 was the low point or near the low after the market downturn at the start of the Covid ramp up. How does their current price compare to the Feb or Jan 2020 price?
that Covid dip was an aberration and was quickly recovered from later in the year.