Microsoft has officially joined the exclusive club of companies with a market cap above $2 trillion.
After Apple, the tech giant is only the second publicly traded American corporation to reach such a valuation.
Last year, Apple’s market valuation surpassed $2 trillion, and it now stands at $2.24 trillion.
Just over two years after passing the $1 trillion market cap threshold, Microsoft achieved the $2 trillion level.
People spent more time on their gadgets as a result of the epidemic, which increased demand for Microsoft’s products.
Since March 2020, when pandemic lockdowns took effect began globally, Microsoft’s stock has increased by 64%.
As the pandemic has boosted technological adoption, the firm continues to witness increased demand for its cloud services.
With $41.7 billion in revenue for the March quarter, up 19 percent year over year its highest revenue increase since 2018 and profits of $15.5 billion, up 44 percent, it topped quarterly estimates.
Satya Nadella, who took over as CEO of Microsoft in 2014, has transformed the company into the world’s largest vendor of cloud computing software, including both its infrastructure and Office application cloud units.
Read more on Tech Gist Africa:
Apple overthrows Amazon as the most valuable brand in the world
Apple’s quarterly sales tops $100 billion for the first time in history