Microsoft becomes second company (Apple is on first rank) to reach $2 trillion market cap threshold.
The company hits the mark as shares rose as much as 1.2% before moving back a little to $265.51 (1.1%),and giving the company a closing figure of $1.99 trillion. This milestone is acheived two years after the company crossed the $1 trillion market capitalization figure.
Oil giant Saudi Aramco, trading on the Saudi Tadawul exchange, surpassed the $2 trillion mark on its second day of trading in 2019 but finalized its market cap at $1.88 trillion on Tuesday.
Microsoft’s shares have been appreciated by the pandemic. As lockdowns paved way for remote learning and earning. Demand has boosted substantially for Microsoft’s software and cloud computing services. Since stay-at-home notices went into official in March 2020, Microsoft’s stock rose more than 64%.
“Over a year into the pandemic, digital adoption curves aren’t slowing down,” Microsoft CEO Satya Nadella said in a statement back then. “They’re accelerating, and it’s just the beginning.”
Amazon and Google are also rushing to join the $2 trillion club. At No. 3 on the list of tech Gods with respect to market cap is Amazon, with a $1.76 trillion value figure, followed closely by Google’s $1.67 trillion.