Microsoft broke the record to be $2 trillion market cap
By MYBRANDBOOK
Microsoft stock was up 1.1% Tuesday and is up more than 20% this year and reached a new milestone Tuesday as the company’s market capitalization hit $2 trillion for the first time.
Whereas, Apple became the first publicly traded U.S. company to reach the $2 trillion mark in August and the Fellow Seattle-area giant Amazon, valued Tuesday at $1.77 trillion, is also approaching the $2 trillion club.
The company continues to see growing demand for its cloud services as the pandemic has accelerated technology adoption . It beat quarterly expectations with $41.7 billion in revenue for the March quarter, up 19% year-over-year - its biggest revenue growth since 2018 - and profits of $15.5 billion, up 44%.
Secondly, as the workforces expected to have a heavy remote focus, we believe the cloud shift is just beginning to take its next stage of growth globally.
Back in April, the company reported that its sales had risen 19 per cent year-over-year to $41.7 billion in the first quarter of 2020. Whereas, Apple's market valuation standards at $2.24 trillion, the report said.
“With workforces expected to have a heavy remote focus, we believe the cloud shift is just beginning to take its next stage of growth globally,” Wedbush analyst Dan Ives wrote. “We believe this disproportionally benefits the cloud stalwart out of Redmond, as Nadella & Co. are so well positioned in its core enterprise backyard to further deploy its Azure/Office 365 as the cloud backbone and artery.”
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