The tech giant is only the second largest publicly traded US company, behind Apple (AAPL), to achieve such an assessment. Oil company Saudi Aramco, which went public in 2019, has also already topped that mark, although its market capitalization on Tuesday was $ 1.88 trillion.
that of Microsoft (MSFT) Market cap topped $ 2 trillion in Tuesday’s trading and closed just $ 300 million below that mark. Its stock on Tuesday climbed 1.1% to $ 265.51.
The company hit the $ 2 trillion mark just over two years after first crossing the $ 1 trillion mark in market capitalization.
The Covid-19 helped achieve this. The pandemic meant people were spending more time on their devices, increasing demand for computers, gaming systems and Microsoft’s cloud computing platform. And a stock rally – along with the success of tech companies in particular – has pushed its stocks up.
Microsoft’s stock has gained 64% since March 2020, when pandemic lockdowns began to take effect in the United States.
In April, Microsoft said its sales increased 19% year-over-year to $ 41.7 billion for the quarter ended March 31.
“More than a year after the start of the pandemic, digital adoption curves are not slowing down,” CEO Satya Nadella said in a statement at the time. “We are building the cloud for the next decade, expanding our addressable marketplace and innovating at all levels of the technology stack to help our customers be resilient and transform. “
Apple’s market value surpassed $ 2 trillion last August and currently stands at $ 2.24 trillion. Now Microsoft has joined its ranks, along with two other big tech companies, Amazon (AMZN) and Google (GOOGLE GOOGLE), biting their heels. Amazon’s market capitalization hit $ 1.77 trillion on Tuesday, and that of Google’s parent company Alphabet hit $ 1.67 trillion.