Microsoft 2nd US firm to pass $2 trillion market cap. Microsoft’s market capitalization surpassed $2 trillion in trade, joining a select club of global businesses that have done so, including Apple.
Apple passed the $2 trillion milestones in August 2020.
Despite reaching $2 trillion in intraday trading on Tuesday, AppleInsider claimed that Microsoft’s value was around $300 million short of the all-time record by the time markets closed.
Microsoft, like Apple, has benefited from the surge in work-from-home and virtual education that resulted from the Covid-19 epidemic. Microsoft’s stock has increased 64 percent since March 2020, when lockdowns started.
In April, the firm announced that its first-quarter 2020 revenue increased 19% year over year to $41.7 billion.
As of this writing, Apple’s market value was estimated to be $2.24 trillion, according to the study.
According to some experts, the Cupertino technology behemoth may become the first company to reach a $3 trillion market value within a few years.
Along with the technological titans, Saudi Aramco, the oil firm, once exceeded the $2 trillion mark. Its market capitalization was $1.88 trillion on Tuesday.