Microsoft emerged as the second US public company to reach a milestone of $2 trillion market value, leveraging its dominance in cloud computing and enterprise software expansion plans in a post Covid-19 world. Its shares skyrocketed to 1.1% amounting to $265.64 on Tuesday in New York. The software company became one of the only two companies to be trading at such a high value, alongside Apple Inc., the undisputed champion until now.
After taking the chair in 2014, Chief Executive Officer Satya Nadella has remodelled the company based out of Redmond, Washington into the largest seller of cloud-computing software. The restructuring includes both its infrastructure and office application cloud units. Microsoft has also emerged as one of the largest US technology companies that has managed to cruise through the scrutiny from the rapidly proliferating active American antitrust regulators facilitating a free hand in acquisitions and product expansion for the company.
Microsoft has profited 19% so far this year, leaving behind Apple and Amazon Inc. This is due to the reason that investors heavily contributed in the rise of the company’s stock on expectations of long-term gains in terms of both earnings and revenue generation, along with expansion in areas like machine learning and cloud computing. Its third quarter results topped the expectations and showcased a colloquial rise across various business segments in the late April of the current year.