Microsoft has officially entered the most elite of clubs: corporations with a market value exceeding $2 trillion.
The tech giant is only the second publicly traded American company, behind Apple (AAPL), to reach such a valuation. Oil company Saudi Aramco, which went public in 2019, has also previously passed that mark, though its market cap on Tuesday was $1.88 trillion.
Microsoft's (MSFT) market capitalization topped $2 trillion during trading on Tuesday 22 June 2021, and closed just $300 million shy of that mark. Its stock on Tuesday climbed 1.1% to $265.51.
The company reached the $2 trillion milestone just over two years after it first passed the $1 trillion market cap mark.
Microsoft's stock has gained 64% since March 2020, when pandemic lockdowns began going into effect in the United States.
In April, Microsoft reported sales were up 19% year-over-year to $41.7 billion for the three months ended March 31.
Apple's market value passed $2 trillion last August, and it currently stands at $2.24 trillion. Now, Microsoft has joined its ranks, with two other Big Tech firms, Amazon (AMZN) and Google (GOOGL GOOGLE), nipping at their heels.
Amazon's market cap hit $1.77 trillion, and Google parent Alphabet's reached $1.67 trillion.
Source: https://edition.cnn.com
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